Posted by Lola Davis on 9/13/12 9:56pm
Msg #434335

(Seal) after the borrowers name.

Does that mean to notarize that particular document? There was not any notary literature or place to be notarized. _________________(Seal)
Borrowers Name

Reply by JENNY/TX on 9/13/12 10:01pm
Msg #434336

Lola, how long have you been a notary? Seal (near the borrowers name) is a fancy way of saying borrowers signature. Way in the past people had personal seals they would stamp on a doc using wax. Hugh can explain this better but I think this is the short version.

Jenny

Reply by Buddy Young on 9/13/12 10:03pm
Msg #434337

Re: No n/m

Reply by JENNY/TX on 9/13/12 10:06pm
Msg #434338

Re: No

Buddy, was this no for me or Lola?

If it was for Lola you are right. No notarization.

Jenny

Reply by Buddy Young on 9/13/12 11:50pm
Msg #434348

Re: No,lola n/m

Reply by Pro Mobile Notary on 9/13/12 10:26pm
Msg #434339

I have often asked attorneys to answer that questions and I have never received a satisfactory answer.

One attorney told me it was something that was a throwback to older times but could offer no explanation for why it endures on documents today.

Reply by Jack/AL on 9/13/12 10:36pm
Msg #434341

Here's the body of a message from HisHughness,

message 429845, of 08/09/2012. His words, not mine, but they make sense to me........

"Seal" after a signature is not just another word for signature. It is a remnant from the days when seals were actually used and impressed in wax. A document under seal in some jurisdictions has legal ramifications. It may extend the statute of limitations for legal actions taken under the document. It may eliminate the necessity for proving consideration on a contract. It may do both.

What a signing agent should NEVER do is tell a borrower that the word "seal" after his signature has no significance. If you are in a jurisdiction that still recognizes the distinction of documents under seal, you could be giving the borrower incorrect information that would redound to his detriment. And, though the chances are remote, it could come home to bite the signing agent in the butt -- hard.

Reply by VT_Syrup on 9/14/12 6:18am
Msg #434356

How it works in one state

This summer there was a notary forum sponsored by the Vermont Secretary of Sate. Paul S. Gillies, attorney and former Deputy Secretary of State, presented. On his own initiative, without being asked, he explained about (seal) near signatures. It's just as HisHughness wrote. In Vermont, a contract under seal does not require consideration (that is, it is not necessary for both parties to exchange something of value; one party can be giving something and getting nothing in return). Also, in Vermont, the statute of limitations is extended from six years to eight years.

Reply by Robert Williams on 9/16/12 11:14am
Msg #434619

Re: How it works in one state

So, it's like a signature on steroids?
Means more than just a signature.

I was always told it was just a throwback to earlier time... good to know that it isn't always so simple...

Reply by MW/VA on 9/14/12 1:55pm
Msg #434423

I do wish they'd remove that (seal) marking after the

signature. People often mistake it for "date" and automatically date the document. We get instructions all the time that tell us that the borrower(s) shouldn't date the NOTE, for instance. IMO it only serves to confuse.

Reply by HisHughness on 9/14/12 3:36pm
Msg #434434

Re: I do wish they'd remove that (seal) marking after the

Why would they remove it? The (seal) gives the holder of the note and deed greater rights. If you ask me to loan you $200,000, I'm not going to voluntarily give up the right to not have to prove a normally essential element of my case, or the right to have more time to sue you. In many jurisdictions, that (seal) is there for a really good reason.

Reply by VT_Syrup on 9/14/12 3:58pm
Msg #434438

Re: I do wish they'd remove that (seal) marking after the

I was searching around the Internet, and found a case where someone with a mortgage discovered the lender had violated one of the fair lending rules, so the borrower sued to be compensated for the illegal charges. It took them a while to discover the rules even existed. If the note hadn't had the word seal, the statute of limitations would have expired, but because the note had the word seal, they were able to sue. So it can work both ways.

Reply by MW/VA on 9/14/12 6:20pm
Msg #434449

Thanks for that info. I didn't realize it had a legal

significance. Obviously, it does.

Reply by Clem/CA on 9/13/12 10:52pm
Msg #434343

It means that the borrower can not afford a (whale) but maybe can get a (guppy)

Reply by Lola Davis on 9/14/12 12:32pm
Msg #434400

Thank you all for your answers. It really helps.

Reply by Stephanie Santiago on 9/14/12 2:58pm
Msg #434428

Cute, Clem..... n/m