Posted by Jack_TX on 6/15/07 9:06am
Msg #195322

An interesting signing yesterday, kinda long!

I did an Investment Property signing yesterday from a Title Company. When I received the documents via UPS, I noticed that there was a another signer listed on the Warranty Deed. However, she was not listed anywhere else in the loan package. I call TC and ask if second signer was indeed going to be in attendence? They were alittle confused and contacted Borrower, Borrower advised he has paperwork removing her from Title. TC calls me and advised of same. When I get to the signing, the Borrower ( who also happens to be a Lender by profession) is laughing about the situation. He tells me that they had drawn up the entire loan package and even though she was still vested in Title, no one had asked him anything about her, or if she was even going to be signing or anything until I had inquired about her. He had went on his own and had a Quit Claim Deed drawn up, and had her sign it in front of the notary in MS, and they had overnighted it to him for us to complete his part. Thought I would share.

Reply by BrendaTx on 6/15/07 9:24am
Msg #195324

He's using a QCD for that? Is it on a Texas property?

Since you're from the title background, what do you think about that?

Reply by Jack_TX on 6/15/07 2:51pm
Msg #195379

Hi Brenda, I do enjoy your posts. That is the exact same thing I had informed the TC about in the original phone call to them. They said that he had the Warranty Deed already signed by her, and I asked are you sure its not a QCD? After all that is the form the grantor disclaims any interest the grantor might have in the property, and passes that claim on to the grantee. Which in this case was exactly what was called for. I have dealt with this issue before when I was with FirstAm Final Docs division. I was the person that had to resolve Disburse Hold issues and lost documents etc....

Reply by BrendaTx on 6/15/07 3:35pm
Msg #195389

Jack, I guess I am saying if she *was* ever on title, I feel a QCD isn't enough for a property being mortgaged. Warranty Deed would be better and I do understand the difference between the two. JMHO. To me, a QCD is to clear up a fuzzy issue of non-ownership, not to change vesting.

Just for grins I will to the As in the county's grantor/grantee index. Not a single one has been filed since 2000 for people/businesses with names beginning with an A.

I was taught years ago that the county clerk where I was working for a lawyer wouldn't accept QCDs. I know in this county they do, but not very often is one filed.

Mebbe I just don't understand what you mean.

Reply by BrendaTx on 6/15/07 3:37pm
Msg #195390

Re: An interesting signing yesterday, kinda long! oops

**Just for grins I >>will<< to the As in the county's grantor/grantee index. **

Should have been I>> went<< to the As...