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[+] United One Resources, Inc. - Diane O'Neill/MI (5 replies)
4/30/2012 2:01:02 PM (4472 views)

[+] Comment on "NAR: Pending Home Sales Increased in March" - Source of Title/OH (1 reply)
4/30/2012 9:50:17 AM (3422 views)

[+] Bang You're Closed: Threats Stormy Exits & Violence at New York Closings - Leigh Attridge/MA (1 reply)
4/29/2012 9:41:10 AM (5422 views)

[+] Slightly Off-Topic - Scott Perry/PA (18 replies)
4/27/2012 9:30:17 AM (5089 views)

[+] Work Slow Down - Jason Knowles/AL (5 replies)
4/26/2012 3:06:08 PM (3963 views)




[+] Eclipse Real Estate Services - J Nisonger/CA (11 replies)
4/25/2012 4:04:38 PM (4366 views)

[+] ESS/Efficax/Real Estate Streams, et al - Jack Borgland/AL (3 replies)
4/21/2012 12:53:11 PM (5434 views)

[+] Comment on "30 Louisiana Clerks of Court Sue MERS for Thousands per Mortgage" - Source of Title/OH (4 replies)
4/20/2012 6:21:50 PM (3530 views)

TIAC E&O - F P/VA
4/20/2012 2:17:03 PM (2899 views)

[-] Altisource New Requirements - Karen Hurley/KY (8 replies)
4/19/2012 3:10:22 PM (4697 views)
Re: Altisource New Requirements - Patrick Scott/IL
4/19/2012 7:28:28 PM (5235 views)

This makes sense to me, especially in the case of a foreclosure.  The lender cannot foreclose on more property than that which is encumbered, and would not want to enforce the lien on less than that which is encumbered.  They are also asking you to compare the legals and to note any differences, which would give the attorney an opportunity to seek a remedy for any error.

Here's an example of a case where using the legal from the vesting deed might cause problems:  Eminent Domain.  Say, in 1990 the borrower purchases Lot A.  In 1995, the East 5 feet of lot A is taken for widening of an adjacent road.  In 1997, your borrower grants a mortgage, the eminent domain case is duly noted, and the East 5 feet are excepted from the legal description.

The legal descriptions on your mortgage and your vesting deed now differ, but the one on the mortgage is accurate.  The deed, on its own, is not.

I'm sure there are many other examples where relying on the vesting deed alone may lead to trouble.

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Re: Altisource New Requirements - F P/VA
4/19/2012 8:29:13 PM (5183 views)
Re: Altisource New Requirements - CHARLENE  PERRY/MD
4/20/2012 1:17:16 PM (4975 views)
Re: Altisource New Requirements - Robert Franco/OH
4/20/2012 1:39:13 PM (5010 views)
Re: Altisource New Requirements - CHARLENE  PERRY/MD
4/20/2012 1:42:56 PM (5064 views)
Re: Altisource New Requirements - Robert Franco/OH
4/20/2012 9:27:07 AM (5081 views)
If The Legal Doesn't Match, It Doesn't Attach - Scott Perry/PA
4/19/2012 9:57:33 PM (4996 views)
Re: If The Legal Doesn't Match, It Doesn't Attach - george Hubka/MI
4/23/2012 12:43:43 PM (4774 views)

[+] A Rare Apartment Comes on the Market at The Dakota in New York - Leigh Attridge/MA (1 reply)
4/18/2012 5:25:58 PM (5059 views)

[+] Southeast Title and Processing, Lawrenceville, GA - Dianne Barnidge/MS (4 replies)
4/18/2012 5:02:54 PM (3866 views)

[+] Cfacts Flexible Title & Closing Services - Joel Lee/NY (6 replies)
4/18/2012 10:58:10 AM (4434 views)

[+] E&O referral - john rutledge/VA (5 replies)
4/17/2012 8:09:53 PM (3446 views)

[+] I finally get it. - F P/VA (4 replies)
4/17/2012 4:42:34 PM (3504 views)


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