Wife On Deed But Not On Mortgage
HELP!
Something I havent seen before.
I am negotiating a SS with a fellow but he is the only one on the mortgage but both he and his wife are on the deed! She is in Florida too :(
Should I get them both to sign everything?
Would she notarize in FL separately and he separately in MA? Overnighting the originals back and forth
I get my SS participants to sign
1) a POA,
2) an auth to release funds to me (for closing agt),
3) an auth to release info (for loan info),
4) an equity agreement,
5) a P&S and
6) a quitclaim deed.
To be safe, get the wife's notarized signature on any docs necessary to transfer title. Likely her financial info won't be needed on the short sale application.
Thanks that is what I thought!
How physically do I do this?
The scenario I think would be:
He gets it notarized here
Overnighted to FL
Wife in FL gets docs notarized down there
she then sends it up
Each notary "testifies" to the person they see?
JK
If you do it that way, make sure that there is enough space on the document(s) to allow for separate Notarials. Or, you could simply have identical docs, each with it's own notarial for the applicable state/county... and submit two, separate docs.
Right! The NP must physically witness the signing by the signer.
A friend of mine had a BIG lawsuit because she bought a note and had the assignment signed and witnessed by a non-present (HUH? Will explain shortly) NP.
The signer was in State A,, the NP was in State B (!) and stated that he had witnessed the signature !
The assignment was signed only by the husband, to whom the note was payable...but the "putative" common-law illegal immigrant "wife" sued to set the assignment aside on the basis that the H was senile and therefore mentally incompetent to sign the assignment.
The note buyer had her NP in the buyers' state, 2500 miles distant, "witness" the signature, although the NP could not see it done, had to take the word, on the phone, that it had been, etc.
And the poor NP was scared out of his wits by the prospect of being dragged before the licensing board in his state and being in big trouble because he had not really seen it happen.
Whole deal cost my friend more than $10k in legal expenses, time, travel, etc.
So, again, yes, that NP must be physically present and see the signature after confirming the signer is who he says he is, etc.