About: The Alliance

Any instrument which shows on its face that it is defectively acknowledged or which bears a defective certificate is not entitled to be recorded. If such is filed, it does not constitute constructive notice of its contents to subsequent purchasers or parties to encumbrances. Now consider if the certificate is in statutory form, though the acknowledgment was not taken in the statutory manner, then the filing of the instrument gives constructive notice of its contents. If a recorded instrument is not properly acknowledged as to one of several grantor, it gives constructive notice as to the grantor whose acknowledgment was proper. English common law held that ownership of real property was transferred by “feoffment.”

This involved delivery of possession, which was termed “livery of seisin.” The transfer was held effected by a delivery of the land itself or something symbolical of the land’s title. Therefore, “NO” writing or deed was involved. The Alliance for Banking and Economic transparency believes the purpose of securities offering in MBS are for the transfer and sale of the “legal” title to real property. Therefore the assignment becomes a moot point for stating a claim. In a transfer of title the grantor executes a grant deed or some other contract for transferring the legal title to another. By comparison, the lender records its interest and hence, always maintains the interest in public records. The public record denotes the lender as a beneficiary in a title theory state.

For the state of California, the lender transfers its interest by lawful assignment of the mortgage receivable. The two elements of lawfulness are due consideration and lawful intent for executing an assignment

This is an example of the type a non transparent scheme being used in banking to deceive the household. Unlike days gone by the need for an alert and astute mortgagor is a mandate for obtaining a sound loan. Our posts are displayed in the order they’re published. We hope you find our posts informative  with content  you will find easily accessible with contact information.

logo-cert-cfeJoin us in this fight against oppressive lending and banking and for advocating the need for more fair and honest disclosure to better gauge the chances of preserving home ownership in an economic downturn.

The Editor

The Alliance for Banking and Economic transparency

 

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