By Lisa A. Tyler
National Escrow Administrator
The California Secretary of State allows someone other than the previous owners to file entity documents using a name of a corporate entity that has previously been cancelled or suspended. There is a process established on the Secretary of State website which accommodates this. Now it seems fraudsters are attempting to use the same process and acquire the name of a dissolved or suspended corporate entity, to act as the owner of real property to take the equity and title from the true owner. Read "CANCELLED or suspended entities" to discover how fraudsters steal the entity and then attempt to sell off its assets.
The fraudsters just will not let up. They are trying every angle possible to abscond with innocent people's money. They target the email accounts of buyers, sellers, lenders, mortgage brokers, real estate agents and settlement agents so they can track the progress and strike right before closing. This was the case for one of Chicago Title's title issuing agents, Bishop Title, LLC, in Abbeville, South Carolina. Read "NO end in sight" for all the details.
A notary generally notarizes a document using one of two instruments; either a jurat or acknowledgment. Notaries should be clear on the difference between the two. An acknowledgment ensures the signature on the document can be trusted. It indicates the signer personally appeared before the notary, was identified by the notary and affirmed to the notary that the document was freely signed. Read more about these two types of instruments in "ACKNOWLEDGMENT vs. jurat."
Be sure to answer the monthly notary question to make certain you understand the tips shared to increase your "NOTARY know how"!
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