Posted by O/Cnotary on 3/15/06 12:02pm
Msg #105239

Split signing, I am the 2nd notary, so I change dates on..

the RTC to reflect todays date 3/15 and ending 3/18 even though the RTC has already been signed by the 1st signer on an earlier date?

Reply by O/Cnotary on 3/15/06 12:04pm
Msg #105240

PS, but obviously I wouldnt change dates on the RTC signed

by signer #1, right? Again, this s a first for me!

Reply by Janlee_MI on 3/15/06 12:11pm
Msg #105246

Re: PS, but obviously I wouldnt change dates on the RTC signed

You need to change the date for the last signer. Yes you must change the date and have the signer 2 intial the change.

I hope this helps

Reply by O/Cnotary on 3/15/06 12:22pm
Msg #105251

Thanks, thats what I thought, just making sure, have a good

day!

Reply by Joshua Basil on 3/15/06 6:55pm
Msg #105426

Re: Thanks, thats what I thought, just making sure, have a good

You want to make sure you get this right this is one of the most important docs and can not fund if done incorrectly.

When doing a split signing...The FIRST signer will imput the transaction date, and go ahead and sign the RTC. The SECOND signer will LEAVE THE ORIGINAL TRANSACTION DATE ALONE, and simply fill in the correct Recission date for the day they sign.

I hope this helps, I have done many many split signing and work for a Nation-Wide signing service whom completes split signings every day.

Joshua Basil

Reply by AngelinaAZ on 3/15/06 8:37pm
Msg #105465

You guys are wrong on this one.

Each signer has their own recission timeline.

Signer #1 signs today... fills out their stuff and has 3 says from that point to recind.

Signer #2 signs tomorrow... fills out A SEPARATE FORM (print extras or make copies if you have to) and has 3 days from that point.

They end on different days.

You put N/A on the other person's sig. line.

Reply by PAW on 3/15/06 9:28pm
Msg #105488

Correct, Angelina.

The Right to Rescind is provided to **each person** with an interest in the property as per Reg Z. Each person must receive the notification and disclosures, which starts their individual clocks. With two signers, the first signer's clock starts when he/she receives his/her notice and disclosures. The second singer's clock starts when he/she receives his/her notice and disclosures. The dates could be very different for each signer. The effect on the lender is that the settlement cannot take place until after the expiration of all the RTC's, but the lender technically would not have to honor a request to rescind after that signer's RTC expired, but another signers RTC was still in effect.