Digital Signature Licitness for Quitclaim Deed in United Kingdom

How to eSign a document: digital signature licitness for Quitclaim Deed in United Kingdom

foreign [Music] hello hello and welcome to Notary Life with Kimmy well hey guys today I am talking about the difference between a quick claim deed a warranty deed and a trust deed you will come across deeds in your notary business every day every day but there's no need to worry about them because if you know how to properly notarize it doesn't matter what kind of paper someone presents you or what type of document so I'm all in the business of training I'm part of the notary educator so check us out notaryeducatorsllc.com where we will help you with all of your training needs okay because if you don't know how to properly notarize documents you have no business you can Market to the sky or whatever but you got to know how to do your job your actual stamping of the documents and that's where I come in so check us out again at notaryeducatorsllc.com so let's talk about it so all of these Deeds that we're talking about today the quick claim deed the warranty deed and Trust deed are all forms of documents used when it comes to real estate transactions okay so the first one we're going to talk about is a quit claim deed most people sound like they're saying quick claim the q-u-i-c-k but it's really a quit claim deed and the reason they refer to it is quick sometimes is because it really is a quick way of transferring property to another person so let's get into what the dictionary actually says and I'm gonna break it down for you so a quit claim deed is a document that transfers any interest in The Grand Tour has in the property to the grantee okay it does not guarantee the grantor actually owns the property or has rights to transfer so let's I'm gonna give you an example of that so you kind of need to know those fancy terms that I just read in order to really be able to communicate effectively with attorneys and stuff okay um or even the public they may not know what it is but you need to know what it is so The Grand Tour is me I have property and I decide I'm going to give it or gift it whatever you want to do with it to my husband Jeffrey he's going to be the grantee so I have given him the property now just because I wrote it out on this form which is why people call it usually a quick claim D because it's so fast I literally just signed a paper and it's his property wow right but the thing about it is you don't know if unless you're involved in the transaction if the person legally has ownership in the property because anybody can fill out a piece of paper now that's a whole other video I'm not getting into that right now how do you know if the person has um the right to give the property away I you don't know unless you do some digging homework and hire people and all that so this is not what the video is about so the quick claim deed is a document that transfers the interest of the grantor or their owner to someone else which is called the grantee okay short version our next deed we're going to talk about is a warranty deed now the warranty deed guarantees that The Grand Tour has the right to transfer the property remember we just kind of talked about that and that there are no liens on the property so the warranty D they've done their checks and balances and everything they're like yes Kimberly does have the right to transfer this property to someone so that's a warranty deed okay and you will find those in loan modification packages um is one example of where you will find that type of deed the public will call you with all of these type of Deeds that we're talking about today because they may receive a loan modification package from a client and from the company and they'll call you hey I got this package and I need to know can you um notarize it for me and they'll say I went to the bank and it has a deed in it and they won't do it so most banks will not touch a deed unless it is related to their Bank some kind of way the transaction is related to their bank that's why they're calling you you need to understand what these Deeds are because when the public calls you it's a high value transaction and you cannot it till you make it on these things okay so just to recap what a warranty deed is they have the company has done investigative work it is true that Kimberly does own the property there are no liens no other banks have an interest in it so because you can have a property and you've taken out 10 loans on it right so if that's the case they try to sell it to you you need to make sure that all 10 loans have been paid right so that's the whole purpose of the warranty deed to confirm everything is clear with that now let's move on to a trust deed a trust deed is a document that secures the loan on a property the borrower transfers legal title to the property to a trustee that holds it until the loan to be paid okay so you have a property but it has a mortgage attached to it is the easiest way to explain the trust deed so I bought a house I owe I owe SunTrust money for it so technically when people say I own my house you really don't own it until you get the deed while you're paying your mortgage payments the money or the property rather is in trust to or SunTrust so technically it's their home until you pay all of the money that's a trust deed that's a trustee so the trustee protects you too because it's like now can't just say this is my house they're saying no I know the house belongs to Kimberly as long as she's paying her payments or until it's paid up and then it's completely hers but in the meantime it's like the middle man I have taken their money they have an interest in my property and if I don't pay it they're going to come and get the property okay simple as that so just to be clear the trustee is again holding the property it's a piece of paper saying it actually says trustee has the name of the address name of the owner and all of that but it's saying hey we know Kimberly owes you this money and we know that you're kind of loaning her um the money to take care of this house until she pays it up and then once she pays it you have agreed to tear up the trust and give her ownership complete ownership okay so I hope that makes sense so I am going to recap these Deeds really quick so you have to quit claim deed which is you taking your property and you give it to somebody else and it happens really quick just with signing in paper the next one is the warranty deed showing that everything on the property has been verified confirmed there are no liens and now it's free and clear the trust deed make it short and simple you own a property or buying a property the bank still has an interest in it because you have not paid them all their money so you need to be aware this is only a few of the Deeds that's out there but these are the most common that you will find during your notary job okay these calls will come from lenders it will call you will receive calls from attorneys private citizens banks will call you sometimes I mean the phone call can come from anywhere so you want to stay ready be ready so you don't have to get ready okay well until next time guys this is Notary Life with Kimmy bye thank you [Music]