Posted by A S Johnson on 11/28/13 11:31am
Msg #494349
Notary law and Real Estate law
I was at a Thanksgiving dinner and party last night.
Was at a table with my state rep, who is an attorney and 2 other attornies, all have clients that rquire them to handle real estate law in thier praticies. In Texas you MUST have a bar ceritification to handle Title docs. One owns a Title Co.
In or conversations, it became evedient the law requires the borrower be provided with a "exercuted" copy of HELOC documents at the loan closing, but the question was, at the signing or the funding when the signing was done by a Notary in a remote location with the 3 day RTC. Did this refer to the Notarized copy or the one which the Escrow Office had signed off on.
Question, how can a for profit company in one state dicided the meaning of real estate law of another state and enforce their meaning?
P S Poorly written. Sorry. Still trying to understand this.
| Reply by A S Johnson on 11/28/13 11:43am
Msg #494350
P S I did bring this up as last week. I recently had a HELOC signing as required in a remote law office. The package was 167 pages, with no extra fees, which had to be signed and Notarize and given to borrower at the table. The Title Company was out of state but qouted the Texas law that the borrower be givien a "Exercuted" copy of the package.
I had Not had this request in my 15 years a Notary or by any other Title Companyin the 11 years of doing signing. Of course the signing Service thru their hand up and said they could not do any thing about this, BUT said I should give the law office I did these in a ream of copy paper for coping the documents on thier equipment.
| Reply by Linda_H/FL on 11/28/13 11:45am
Msg #494352
Sid, I think if you search it here, BrendaTX has posted on
this matter before - and she provided a link to the statute for it...
My understanding from reading here - HELOC signing in TX requires, by law, that the borrowers be given a copy of the executed package. I believe this was also clarified here by John Schenk - who I really miss, btw.. 
| Reply by Linda_H/FL on 11/28/13 11:50am
Msg #494353
Here you go Sid
Msg #352296
| Reply by BrendaTx on 11/28/13 11:57am
Msg #494354
Sid,
1) What "for profit company in one state" are you referring to? Would this be like a title company, SS, or lender?
2) Re: Must have Texas bar certification to handle title docs: National title companies that handle Tx loans have some type of affiliation with title companies that have said Texas certifications in place.
3) Answer on how the meaning of R.E. Laws are interpreted and enforced:
If you go to the Stewarts Title Underwriters Manual, you will see that the rules are nicely stated and available for use by settlement companies and agents. Undoubtedly, there are other underwriter manuals, I just never have looked.
There is no room for interpretation. It is my unauthorized opinion that no matter what state the notary is in when said loan is signed, the title company and the signing agent must comply with the property laws and Tx Cons laws and perform as stated at this link.
http://www.vuwriter.com/vumanuals.jsp?displaykey=UM112465505100000390
3) About providing a copy--give them a signed copy on the date it is signed. To ME, it is clear that this is a requirement. That's why, IMHO, that the execution must take place in a TC office, lender office, or an attorney's office. Must make the copy after the signing and had to borrowers.
See the link above and note:
"...failure of the Company or its Title Insurance Agent to furnish the owner with a copy of the written notice purporting to be made pursuant to Subsection (k)(9) of Section 50, Article XVI, Texas Constitution >>>>on the date that the owner executed the insured mortgage and the promissory note secured thereby,<<<<< provided that the Company does not insure that the written document complies with Subsection (k)(9) of Section 50, Article XVI, Texas Constitution."
| Reply by A S Johnson on 11/28/13 6:55pm
Msg #494356
With a long serving state rep and two other lawyers who handle reat estate transactions, one the owner of a Title Company, why do they have disagreements about this.
As one of them who I work for, says "it,s NOT law until a jury and judge find what the law is in a law is in a lawsuit. That how I make my money."
In other words, law may written, But what it mean is what a jury and or a judge says it is for that one case.
| Reply by Linda_H/FL on 11/28/13 7:31pm
Msg #494357
And you know what Sid?
"it,s NOT law until a jury and judge find what the law is in a law is in a lawsuit. That how I make my money."
Yes, it IS a law, and a judge and jury aren't going to make a decision until someone goes AGAINST what's written in the statutes and a lawsuit results.
Why contribute to that possibility. Just do what you see is written in your TX laws. I'd rather follow what I know to be the law of my state than listen to someone who admits "That's how I make my living" - that's a pathetic statement coming from an attorney and an officer of the court.
| Reply by A S Johnson on 11/29/13 8:59am
Msg #494363
Re: And you know what Sid?
Linda, H/Fl
I really don't care for the personal attack, Thank you.
I am glad you are the whre with all we all need to go.
The statement of "business principal" to what a very sucessful attorney says all the time.
Personally, I do what I am instructed to do by the assignment hiring party.
I simply relayed the discussion as a point that Not all are in agreement. A private company can NOT intrupt written law. As I said I don't post cleary some times.
| Reply by Linda_H/FL on 11/29/13 12:35pm
Msg #494398
Sorry Sid - nothing in my post was a personal attack
I'm sorry you took it that way.
| Reply by BrendaTx on 11/29/13 11:17am
Msg #494378
Re: Notary law and Real Estate law - Sid
"why do they have disagreements about this."
Okay, I didn't get that they disagreed with anything. I'm lost.
| Reply by LKT/CA on 11/29/13 10:11am
Msg #494371
Notary law - notary bound by laws of their state. Real Estate law - Broker bound by laws where the property is located. I've never known it to be otherwise. Most other state laws - bound by that state. You're traveling across country and get a speeding ticket in another state. You're bound by THAT state's laws, not your home state's laws.
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