Can You Be The Notary OnYour Own Deals? - Posted by Lee (TX)
Posted by Lee (TX) on February 07, 2002 at 15:06:21:
( Opps! I posted this question on the Main News Group, but I guess I should have posted it here instead. )
I was wondering about how to do this correctly in Texas, but the concepts probably apply for most areas.
Specifically, can you notarize the signatures of the sellers when they sign a deed over to your corporation, if you are the person who negotiated the deal?
Many of the “Subject to” deals I seem to get are always closed late at night at the seller’s kitchen table. If we reach an agreement, they are ready to sign a deed and a power of attorney right then. Sometimes they cool off and change their minds (Seller’s Remorse) if we have to wait until the next day to get the documents signed before a notary public. You really do have to strike when the iron is hot.
I know that some people say to keep a list of notaries who will travel to where you are at any time of the day or night for a fee. I have done this sometimes, but it always seems rather awkward waiting for them to come. I have even negotiated myself right out of a deal while waiting for the notary because I kept talking about it after the sellers had already agreed to my terms. Big mistake. After they say yes, stop negotiating and sign it up!
Anyway, can you act as the notary on these kinds of deals if you are not personally the grantee on the deed? Is it prohibited for your corporation to be the grantee and you notarize the sellers’ signatures?
Is there a better structure to use for this kind of situation?
Thanks in advance for any information and advice you folks might have on this subject!