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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Details of the Affidavit of Deed Posted by Ward-CA- on May 26, 2003 at 11:10 AM In Reply to: AOD questions posted by zachary on May 22, 2003 at 1:13 PM : Ward, : I had a few questions about the AOD: : 1. If property is grant deeded to: : joebuyer, trustee of Seller trust dated xxxxx : Do you fill out #1 on the AOD exactly the same: : joebuyer, trustee of Seller trust dated xxxxx : 2. in step two would you have them initial B,D,E, and F? : and for B would write in combined amount of cash + note? : 3 in step 3 do you leave the title insurance company blank until you sell it? : Just two more questions I swear :-) : 4. why do you suggest to use a differt notary with than one used for the deed? : 5. and finally.....the AOD shows chain of title from seller to the trustee of trust. I would assume it also there to state that the seller isn't clouding title in some way. : Do you ever have a problem selling from the trust to the end buyer (who probably has an agent who might not understand trusts. : : thanks!! : Zachary =•=•=•=•=•=•=•=•=•=•=•= Zachary, The AOD (Affidavit of Deed) has been devised by the title industry as a sort of estoppel to vouchsafe deeds that were transacted and recorded without benefit of title insurance. #1. Asks for the identity of the grantor(s). That would be the name of the seller of the property, not the grantee/buyer. #2. Yes B, D, E and F would be initialed by the Seller. Item (B) Consideration is the value received by the Seller. That would be the combined total of both the cash and note given the seller. #3. No, this is a form that’s supposed to be completely filled out by the Seller. So I would have them put the phrase, “Any qualified title company chosen by the grantee” in the blank in item 3 at the time the AOD is executed. #4. It’s the title issuer who requires that a different notary be used to notarize the AOD versus the deed. That’s the same party requiring the seller fill out the AOD in the first place. #5. Please remember that the AOD is not a recorded document. So it can’t show or depict the chain of title since the general public would be unaware of its existence. Subsequently selling the property out of the trust to “the end buyer” has never been a problem, not even once. That’s why now I don’t require the seller to give me a recordable back-up deed to use in case a title company refuses to recognize the efficacy of the trust. Hope this helps. Follow Ups: #1........................ zachary 8:25 AM, 05/27/03 (2) Oops, will have to slow down a little methinks.... Ward-CA- 9:13 AM, 05/27/03 (1) No problem :-) one more clarification! zachary 11:34 AM, 05/27/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : I had a few questions about the AOD: : : 1. If property is grant deeded to: : : joebuyer, trustee of Seller trust dated xxxxx : : Do you fill out #1 on the AOD exactly the same: : : joebuyer, trustee of Seller trust dated xxxxx : : 2. in step two would you have them initial B,D,E, and F? : : and for B would write in combined amount of cash + note? : : 3 in step 3 do you leave the title insurance company blank until you sell it? : : Just two more questions I swear :-) : : 4. why do you suggest to use a differt notary with than one used for the deed? : : 5. and finally.....the AOD shows chain of title from seller to the trustee of trust. I would assume it also there to state that the seller isn't clouding title in some way. : : Do you ever have a problem selling from the trust to the end buyer (who probably has an agent who might not understand trusts. : : : : thanks!! : : Zachary : =•=•=•=•=•=•=•=•=•=•=•= : Zachary, : The AOD (Affidavit of Deed) has been devised by the title industry as a sort of estoppel to vouchsafe deeds that were transacted and recorded without benefit of title insurance. : #1. Asks for the identity of the grantor(s). That would be the name of the seller of the property, not the grantee/buyer. : #2. Yes B, D, E and F would be initialed by the Seller. : Item (B) Consideration is the value received by the Seller. That would be the combined total of both the cash and note given the seller. : #3. No, this is a form that’s supposed to be completely filled out by the Seller. So I would have them put the phrase, “Any qualified title company chosen by the grantee” in the blank in item 3 at the time the AOD is executed. : #4. It’s the title issuer who requires that a different notary be used to notarize the AOD versus the deed. That’s the same party requiring the seller fill out the AOD in the first place. : #5. Please remember that the AOD is not a recorded document. So it can’t show or depict the chain of title since the general public would be unaware of its existence. : Subsequently selling the property out of the trust to “the end buyer” has never been a problem, not even once. That’s why now I don’t require the seller to give me a recordable back-up deed to use in case a title company refuses to recognize the efficacy of the trust. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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