Posted by Les_CO on 3/22/07 10:22am
Msg #181336

FL Special Warrenty Deed/Mortgage combination

A first for me. Just did a Florida time share. In the package was a “ Special Warranty Deed / Mortgage combination (two pages). I thought all deeds of conveyance in Fl had to be witnessed? I called and checked, they said no, not in this case. Just have the buyer sign and notarize the signature.

Reply by Lisa Prestegard on 3/22/07 10:32am
Msg #181339

Just curious... with whom did you check, Les? n/m

Reply by Les_CO on 3/22/07 10:54am
Msg #181345

Re: Just curious... with whom did you check, Les?

This was for Hilton Grand Vacations. They seemed to know EXACTLY how they wanted it done.

Reply by Lisa Prestegard on 3/22/07 10:42am
Msg #181341

Here's the definition of a Special Warranty Deed I found:

Special Warranty Deed
A deed in which the grantor conveys title to the grantee and agrees to protect the grantee against title defects or claims asserted by the grantor and those persons whose right to assert a claim against the title arose during the period the grantor held title to the property. In a special warranty deed the grantor guarantees to the grantee that he has done nothing during the time he held title to the property which has, or which might in the future, impair the grantee's title.
http://www/floridatitlemanagement.com/glossary.html

Or you can check this site: http://www.abanet.org/rppt/publications/magazine/2001/01ma/ma01dady.html

Not sure if it'll answer your question, but hope it helps!

Reply by Les_CO on 3/22/07 11:03am
Msg #181347

Thanks for the info.

I think perhaps because he (the buyer) hasn't really bought it (timeshare) yet, he just signs the "mortgage" part. Then after the deal closes they send him a deed?

Reply by Joan_OH on 3/22/07 11:21am
Msg #181349

As I understand this particular timeshare company, I don't know that they are actually conveying property although there will always be a reference to a unit and week number in the Mort/Deed. HGVS sell a vacation points program. Still, I did one a few months ago and there wasn't a deed. Don't know why the buyer would have a deed at the table. If there is one, it would be filed by the owner, in this case Hilton Grand. I don't believe Mortgages in FL require witnesses.

Joan-OH

Reply by skrittof on 3/22/07 11:25am
Msg #181353

Was your signer "trading" for another unit? I had one like that -- they had a regular dot (for Hawaii) that they wanted two witnesses for and the special deed that I could both notarize and witness.

Reply by Les_CO on 3/22/07 2:04pm
Msg #181394

No, buying a week in Orlando (or wherever?)

Reply by Sylvia_FL on 3/22/07 11:46am
Msg #181359

You are correct Joan, mortgages do not require witnesses in Florida, but deeds do.

Reply by Les_CO on 3/22/07 2:03pm
Msg #181393

No, he was buying a (another he has one now) time share. He was also getting "points" etc.
There was, as I said, a "Combination Special Warrenty Deed and Mortgage" He signed, I notarized (no witnesses, as per instructions)
I believe you are correct the "Special Warrenty Deed" part is to be signed by Hilton, the "Mortgage" part by the buyer. Still ONE document?