Posted by Cari on 5/15/09 2:41pm
Msg #288619

****ATTENTION ILLINOIS NOTARIES****

Click the below link to get the NEW IL Notary Form to be used for any new purchases or change of deed name/ownership.

http://www.cyberdriveillinois.com/publications/pdf_publications/i212.pdf

Reply by cdoty_IL on 5/15/09 2:50pm
Msg #288621

Thanks Cari,

you have really been on top of all these changes and good to post with any updates. I am located downstate so not all the changes (the Cook County procedures) are affecting me, as of yet. But, who knows I might see a Chicago prop. loan, and have kept a file with all the info. If not a Cook County Property now, I feel they will make this state wide if all goes well. Thanks again!

Reply by oldhippie_IL on 5/15/09 4:03pm
Msg #288624

Thanks Cari!

Reply by PAW on 5/15/09 5:39pm
Msg #288626

Isn't that strictly for Cook County?

Or is it now statewide?

Reply by cdoty_IL on 5/15/09 5:48pm
Msg #288627

Yes........for now....

But I have heard "thru the grape-vine" that this might be a requirement state wide eventually. Cook County is just the testing point, so I have heard. I guess time will tell. :-)

Reply by Lee/AR on 5/15/09 7:32pm
Msg #288629

Really dumb question...

What if.... someone in another state is handling the 'signing' of a Cook County, IL Deed?
Then what? Oughta be interesting. Gotta love the $25 fee, tho'. And wonder how TC/SS is planning on paying for this hoop.

Reply by MistarellaFL on 5/15/09 7:36pm
Msg #288630

Re: Really dumber question...

Where do you see $25 fee?

Reply by Lee/AR on 5/15/09 7:46pm
Msg #288631

Re: Really dumber question...

Not on the form, but read a prior post and the link provided which mentioned the $25 fee.

Reply by PAW on 5/15/09 8:08pm
Msg #288632

Re: Really dumber question... An answer, I hope

I asked a very 'in tune' signing agent in Chicago (which is in Cook County) about out of state signings, and his answer was that it would NOT apply to non-Illinois notaries. Since this is a 'notarial' issue, I can't see it applying to out of state notaries. Of course, if it becomes an Illinois recording issue, well... let's just see what happens.

Reply by PAW on 5/15/09 8:13pm
Msg #288634

For more info, read ...

http://www.cyberdriveillinois.com/departments/index/notary/newnotary.html

Reply by Bob_Chicago on 5/15/09 9:53pm
Msg #288642

Not sure how "in tune" I am. My wife says that I can't

carry a note with a cosigner, but , I believe that it only affects IL
NPs , and only then if, (generally ) it it an actual "consideration" deed,
( Does not apply to the typical NSA type deed where a spouse is converying
to add the other spouse to title or getting title into wife married name)
and then only if PIQ is located in Cook County.
Deed need not be filed if qualifies to be held by title co and then title
co must hold for seven years. It is not a recording rqmt.

Reply by Pat/IL on 5/15/09 10:52pm
Msg #288644

I got your back Bob.

Bob's right, this only appears to apply to documents of conveyance notarized within the state or, more specifically, by Illinois commissioned notaries. Also, for the most part, conveyances where the grantor is giving up all rights and title to the property. So, it would not apply in the common occurrance by which a spouse quits claim to him/herself and his/her spouse. There are many other exceptions, all in which the grantors retain an interest in the property.

Here's how a major underwirter iterprets whether a notary signing agent may deposit the notarial record with the title agent. Interestingly, this opinion takes the Vancura v Kinkos etal decision into account as well. The training part is not in the new law:

Q: Is a Notary Signing Agent considered an employee or agent of a title insurance
company, title insurance agent, financial institution or attorney?

A: If a Signing Agent has executed an independent contractor agreement with a title insurance agency, financial institution or attorney to provide document signing services for real property transactions the Signing Agent is considered an "agent" of those entities and must deliver a Notarial Record to the title insurance company title insurance agent, financial institution or attorney who contracted with the Signing Agent. Delivery time frames for the Notarial Record apply. The Policing Issuing Agent will be responsible for the education and training of the Signing Agent just as if the Signing Agent was an employee of the policy Issuing Agent under the Vancura case.

Reply by cdoty_IL on 5/15/09 8:12pm
Msg #288633

interesting email regarding this was recv'd today.....

I received an email from a SS with this info below:

*********************************************************************
Illinois Record Law
Notarial Record Requirement — SB 546
Effective June 1, 2009
See attached forms
By enacting Senate Bill 546, the Illinois General Assembly has made significant statutory changes to the Illinois Notary Public Act, establishing a four-year, anti-fraud program. The new law significantly changes the way Notaries must handle certain residential real estate transactions in Cook County by requiring them, for the first time, to create a "Notarial Record" for the notarizations and to obtain a thumbprint for each signer.
This new law applies to every Notary in Illinois who notarizes such a conveyance for residential real property in Cook County and several unusual responsibilities on Notaries. For example, unlike traditional records of notarial acts, which remain in the Notary's custody, Notaries in Illinois employed by title companies, financial institutions or law firms must turn over each Notarial Record to their employer for safekeeping, while independent Notaries are required to file Notarial Records with the Cook County Recorder of Deeds.
This new law:
• Requires a Notary to create a "Notarial Record" of each notarial act performed in connection to Residential Real Property in Cook County
• Requires Notaries to obtain a thumbprint of the document signer(s) on this Notarial Record
• Prescribes that the Notary shall deliver the original Notarial Record to the Notary's employer (return in package to title company/lender)
• Prohibits the Notary from making or retaining copies of the original Notarial Record

***********************************************************************

Not sure how this will effect the notary's fee, guess we will see.
I also thought at one point that it was the notary's job to file this record and pay a recording fee (of $5 or something like that), but it appears it can just be sent w/the mort. and the TC will add with regular recording fee. Sounds like that will save alot of hassle and upfront expense on the NSA end.