Attach your allonges!
It all begins with an idea.
An allonge is a piece of paper which when attached to a note is used to transfer ownership of a note. Be aware, however, that an allonge must be permanently affixed to the note which it transfers. A paper clip will not do it. There have been numerous cases where a person or institution who has purchased a note did not properly affix the allonge to the note. The courts refused to recognize the ownership of the new person or institution.
A note may also be transferred by a written agreement. An Assignment of Mortgage which also assigns the Note is such an agreement.
Please note this blog is not legal advice. It is intended as educational material. For your specific issue you should seek legal advice from an attorney.
Is the signature “acknowledged”
It all begins with an idea.
The purpose of an acknowledgement is for a signer to declare that he has signed a document. It is often found on a document, following a signature. It is signed by a notary or equivalent officer. The advantage of an acknowledgment is that the document is presumed to be signed and is admissible in Court without explanation. This can save considerable expense in establishing that a document is authentic, especially if it is years after the document was signed.
A typical acknowledgement:
On the ___ day of ___ in the year ____ before me, the undersigned, personally appeared _________, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the indivudal(s) acted, executed the instrument.
Notary:
Subscribed and sworn /affirmed before me this ___ day of ___ 20__
___________________________
Notary Public
Qualified in ____________ County
Commission Expires: _____________Notary
Please note this blog is not legal advice. It is intended as educational material. For your specific issue you should seek legal advice from an attorney.