Posted by Anonymous on 5/23/06 8:56pm
Msg #121823

Quit Claim Deed

I have done many loans but doing a quit claim for the first time. I search before posting but could not find the answer to my question. Any help will be greatly appreciated. Do I as a loan signing agent have to collect the information to fill out the quit claim or should I just notarize. I am not to give any advice but I can forsee many questions that can lead in that direction. In this case it is the husband giving ownership to his wife, as the wife is the only person on the loan. Is the wife to sign where it states new owner/corporate officer? I will call the ss firts thing in the morning to get their response, but I will also like any other input.

This will record in the state of California

THanks

Reply by Lee/AR on 5/23/06 9:02pm
Msg #121825

Don't analyze... just notarize. n/m

Reply by Simone E. Lewis on 5/23/06 9:10pm
Msg #121829

Yes, the wife signs as new owner on the Preliminary Change of Owner Report. Very common in CA, if they use only one income to qualify one borrower. She also signed the Grant Deed. I have never seen a quit claim deed on loans document. Hope that help.

Reply by TitleGalCA on 5/23/06 9:40pm
Msg #121834

First you don't *collect any information*. Escrow will present you with a quitclaim deed in your package, where the husband signs over his interest to the wife, and you notarize his signature. As far as the PCOR (preliminary change of ownership) is concerned, just have the husband/wife sign where indicated - escrow will prepare this as well.

The GRANTOR's signature gets notarized. Just look at who the Grantor is and you know who is to sign the QCD and who you are notarizing.

A quitclaim deed isn't all that scary or a big deal, just know what it is for - to sign husbands interest in the property over the wife, as the lender requirement.

Reply by Stamper_WI on 5/23/06 9:46pm
Msg #121837

I did one this week. Wife taking out loan and the soon to be ex husband signed the quit claim. Amicable divorce.. he helped her get the loan and went over the doc's with her.

Reply by SamIam_CA on 5/23/06 9:57pm
Msg #121840

PCOR aka form from hell

I hate the PCOR form. I always tell my borrowers to fill it out the best they can. Do you just have them leave it all blank except the signatures?

Reply by TitleGalCA on 5/23/06 10:03pm
Msg #121843

Re: PCOR aka form from hell

Yes - in fact most PCOR's I get prior to recording are completely blank except for the signature, and the total sales price of the property. Wrong? Yes. But the County Recorder seems to figure it out just fine when it's presented with a grant deed and manages to tax the correct owner. Go figure.

On my to-do list...the PCOR and the statement of information. Actually really simple and no-brainers, but those two things create a lot of confusion.