Posted by Kay/IL on 10/14/11 7:40pm
Msg #400581

Deeds and Transfer Declarations

Not too often, but once every blue moon, title companies, signing services through title companies and lending institutions, without informing you beforehand, will include (or should I say sneak in) a package of documents needed for modifying title in some form or fashion. These documents, at least in Illinois, include quit claim deeds, in Cook County, a notarial record (which requires a thumb print) and various transfer declarations for the state, and sometimes county, city, village, town, etc.

I have no problem assisting the borrower in completing them. However, it may take an extra 10-15 minutes to fill out all those forms. Plus, I am expecting a straight re-fi package when I accept a signing, not one that includes transfer documents.

Although most of the companies I work for have been gracious and paid me extra for completing these form, some have been a pain. Therefore my questions are:

1. What's the best way of handling situations after accepting an assignment and agreed upon fee; and

2. Do you charge extra for completing deeds and transfer declarations that are included in a re-fi package? If so, what's a fair fee to charge for the extra work?

Please feel free to respond here or PM me.

Thanks!

Reply by dickb/wi on 10/14/11 8:04pm
Msg #400585

evry once in a while i get packages with quit claims in them to change the ownership to match the docs.......if it is husband and wife there are no other docs needed except the tax transfer doc wwhich they never seem to send but it is needed for the transfer....however there is no tax due as it is between spouses and is exempt as it would be for a parent and a child.....i never charge extra but in many cases i think they are signing a quit claim deed reading different than i think it should based on the fact that wi is a maritalk prop state, which is different than states like ca, az etc.....in fact we may be theonly marital prop state in the country....i won't go in to the details of what it is as it is a long and cumbersome statute.....the answer to your question is i don't chg any extra........

Reply by Saul Leibowitz on 10/15/11 1:57pm
Msg #400656

Usually I don't complete the forms for the State or County or Municipality; I just have the party fill in name address and telephone no. as Grantor and Grantee and leave the rest to the title co.; and I don't charge extra for that or Deeds or the form with the thumbprint for the four Counties where it is required by Statute {Cook, Will, Kankakee, Peoria, if I remember correctly}.
If I leave things blank then I am not practicing law or doing the title co.'s job.
BTW, surprising how often I get the Grantor/Grantee form required fora Quitclaim in Cook County only when it is one of the other collar counties; rahter than fight, I just get it signed and I notarize.

Reply by Linda_H/FL on 10/15/11 2:49pm
Msg #400660

"If I leave things blank then I am not practicing law or doing the title co.'s job"

Saul? Isn't this going against your regulations?

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

From what I'm reading YOU'RE supposed to complete this form, get the thumbprint and deliver it to to the recorder within 14 days of closing. Not leave it blank and return it to title.

Maybe I'm missing something.

Reply by Linda_H/FL on 10/15/11 2:50pm
Msg #400661

Sorry...within 14 days of "notarization".. n/m

Reply by Saul Leibowitz on 10/15/11 11:58pm
Msg #400673

Re: Sorry...within 14 days of "notarization"..

1. I have an obligation with respect to the form with the thumbprint form if I am independent. If I am a title co. agent then I don't need to give the form to the recorder but rather to the title co.
2. State, County, and Municipal(if needed for that municipality) go back to the title co. with the deed to be turned in with the deed. These are Statewide issues, no thumbprints.
3. 102 Counties in Illinois. More than 20 years ago Cook created a form used only in Cook that has nothing to do with thumbprints. You can see a copy at the Recorder of Deeds excellent website. Its purpose is a declaration that the grantor and granted are real individuals, partes to the transaction. Not strawmen.
Please check the form.

Your comments and views are always respected and appreciated.

Reply by Linda_H/FL on 10/16/11 8:11am
Msg #400677

Apologies for the misunderstanding, Saul

I thought you *were* independent - didn't know you were a title company employee.

Reply by Saul Leibowitz on 10/16/11 12:39pm
Msg #400687

Re: Apologies for the misunderstanding, Saul

I'm not a full time employee of a title co.; when they send me out and pay me I am their agent and I send the form to them. That satisfies the Statute.
Luckily, there are only a limited number of times that we have a deed in Cook County.
No apologies necessary; your comments help many of us here.