Posted by BrendaTx on 1/30/06 1:05pm
Msg #92363

La. Notaries - what is this??

"NE VARIETUR" for identification with an act of mortgage passed before me this ___ day of ___________,2006.


______________________________
Notary


It is on a note. - it is in a newbie's very first. I realize that Ne varietur means don't change anything or something like that.... does this have to be done for the note to be good? Texas does not have a form that verifies like that. Hmmmm.

Reply by MistarellaFL on 1/30/06 2:18pm
Msg #92401

I looked it up, and here is the "legal" answer

A paraph is a signature by a notary on the evidence of an obligation, typically a collateral mortgage note , to identify the note with the collateral mortgage securing the note. the phrase "ne varietur" is Latin for "it must not be altered" is traditionally used in the paraph.
Paraphing means the notary signs the note with his/her official signature, therby certifying the note's genuiness. By paraphng the note "ne varietur" the notary binds & identifies the note with the act of mortgage.
There is more to read there if you like you can go to the address yourself to read more.
Here's the link: http://www.kinsellalaw.com/publications/dictionary.pdf
It's in alphabetical order

Reply by BrendaTx on 1/30/06 3:45pm
Msg #92409

Re: I looked it up, and here is the "legal" answer

Thank you very much Mistarella...I kind of got that from my research, but I did not have this source.

I am uncomfortable with "By paraphng the note "ne varietur" the notary binds & identifies the note with the act of mortgage." because there is no similar certificate in Tx. It's not my problem but it is the problem of my chick...a gal who I have mentored.

I think what I will do is tell her to read her rules...call the SOS and get back with the title company to make a choice on how to handle it.

Reply by PAW_Fl on 1/30/06 9:32pm
Msg #92492

Re: I looked it up, and here is the "legal" answer

Is this for Louisiana property? I have only seen this on signings I've done for LA property, that's why I ask.

Reply by PAW_Fl on 1/30/06 9:33pm
Msg #92493

Re: I looked it up, and here is the "legal" answer

Oops, pressed the enter key too soon.

If it is for LA property, then yes, it must be completed for the note to be valid in LA.

Reply by AlanJ/LA on 8/3/07 1:47pm
Msg #203818

Re: I looked it up, and here is the "legal" answer

The certificate described is a "paraph". In the case of the note, it is (as Kinsella described) simply an annotation on a note that the note is the note described in the mortgage passed before the notary.

It does not obligate the notary on the note. It is merely a means of referencing one document (the note) with the other document (the mortgage).

Paraphs are used in other situations, too. For example, whenever an exhibit containing a property description is referenced in an act involving a conveyance or encumbrance of an immovable property, it can be helpful to title researchers to find the exhibit "paraphed" for identification with the act of sale or mortgage.

I'm not so sure the paraph is unique to Louisiana; it's good form anytime related documents could be separated. In the case of note-and-mortgage, the mortgage is recorded, and the lender holds the note. When the note is paid, the lender is obligated to return the note, marked PAID, to the borrower. The borrower can then prove that the note he signed--and secured with a mortgage--is paid. And the mortgage can be canceled by the clerk without fear of liability because the identifiable note was presented with a request for cancellation.

It's really nothing more than a stamp. An important and useful one, to be sure. But still just a stamp.

I hope this helps.
--
Alan Jennings