Worst Beneficiary Statement known to man

mbstanton · Post by **mbstanton** » Fri Dec 05, 2014 10:50 am

This is the worst beneficiary statement I have ever seen in my 33 years of practice, so I thought I'd share it. The trust deed had over 70 investors, some owning as little as 0.2%. I told the owner that signatures would take 3-4 months, so I suggested that he have an Attorney-in-fact sign on behalf of the benificiary. The map was submitted with the single Attorney-in-fact signature and all parties listed in the cert. This format was rejected by the recorder the day of recording. State law requires the person signing to hand write each parties name, thus requiring over 70 hand written entries.

A copy of title report sheet and certificate are attached.

Mike Stanton, PLS 5702

Warren Smith · Post by **Warren Smith** » Fri Dec 05, 2014 11:10 am

Mike,

Wow - just wow!

Presumably, the Recorder's staff wanted to see the authorization letter(s) from each of the investors. I would think that the incorporation papers for the lending institution would anticipate situations such as this.

Tom Herrin · Post by **Tom Herrin** » Tue Dec 09, 2014 9:41 am

This made me laugh - thanks. Typical Recorder's office fun.

Love the percentage splits out to 10 decimal places on the trust deed.