All Signatures on Real Estate Transaction Documents Must Be Properly Witnessed

To reiterate what I told you in Chapter 14, you can have the best option agreement known to mankind, but if the signatures of both the optionee and optionor are not properly witnessed, the agreement will most likely be unenforceable in a court of law. This can become a real problem when an unscrupulous optionor decides, for whatever reason, that he or she wants out of your option agreement. When this happens, you can bet your bippy that the optionor or his or her attorney will be going over your agreement with a fine-tooth comb in search for any way to weasel out of it. And an option agreement with flawed signatures would provide the weasel with a legal way out of the deal. You also need to know that property title transfer documents, such as a warranty or grant deed, with signatures that have not been properly witnessed and acknowledged by a notary public cannot be recorded in the public records of the county where the property's title is recorded. In other words, a deed with flawed signatures, which was not signed in the presence of a notary public, is absolutely worthless.

0 0

Post a comment