Posted by desktopfull on 8/25/10 10:26pm
Msg #350481

Why can't the TC & lender just

get together and ask the borrower how they want to be vested on the deed? Today's closing the borrower had to sign their name 3 different ways. 1. first & last name 2. full first, middle & last name 3. First, middle initial, and last name. It sure makes a purchase closing go a lot slower when they do this, and the borrower wanted to know why they didn't just use the same name throughout all of the docs. I thought it was a valid question and told her to ask her mortgage broker or the TC to get her answer.

Reply by Pat/IL on 8/26/10 12:46am
Msg #350487

Desk, niether the broker nor the title company should determine how title will be vested on a purchase. Whoever drafts the deed should consult with the buyer to see that the legal name is being used. It would solve a lot of problems in notary world. Alas, it doesn't seem to be the case often.

Reply by PAW on 8/26/10 7:13am
Msg #350495

All too often, the SELLER'S title company prepares the deed. The BUYER'S title company merely passes the signed/notarized deed to the buyer. Sometimes, the title company services both seller and buyer, but still neglects to check the vesting. Fortunately, many title companies do ensure the deed of conveyance is checked and approved by the buyer before recording.

Reply by Larry/IL on 8/26/10 8:04am
Msg #350497

I' am not sure what happens in other states, but I see quite a few Quit Claim Deeds every month. They are usually for correcting documents that have already been recorded with names that are misspelled, variations or completely wrong. Sometimes what I see being corrected makes one wonder if anybody ever looked at the documents at all.

Reply by CopperheadVA on 8/26/10 8:33am
Msg #350501

I do occasional purchase closings and sometimes there is a copy of the first page of the Deed in the package, and the borrower is to check it for correct name and vesting.