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Deed Transfer - is older dated signature a problem?

spackler

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I bought a Wyndham point-based deed off eBay & I'm being asked to sign the deed even though I'm the grantee - with a notary & witnesses. It's based in New Orleans.

I don't have a huge problem with that, but I noticed the seller has already signed his end - with a date that's almost 3 years old. Is that going to be a problem from either the recorder's or Wyndham's point of view?
 

Talent312

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Laws in Louisiana are weird. They're based on Napoleonic Code, not English common law. So, you'll need someone hear from someone more knowledgeable with them than I.

But, I'd insist on a more current seller's signature. A lot can happen in 3 years -- the owner may have died or sold it to someone else. Did you at least get a current estoppel? What does it say?

.
 

davidvel

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I agree with Talent on LA law, but the time difference is not relevant to the status of title. The owner could have sold it to someone else (three years ago) and then signed a deed to you yesterday, which would still mean they gave you nothing.

If someone died since they signed the deed, the title could still be good. An estoppel won't tell you the status of title, a title report will. A lot of this is also dependent on the laws of the state where the property is located.
 

spackler

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Thank you for the responses so far. "Timeshare Closing Services" is handling the closing, but I haven't gotten a decent response back from them yet. An operator/receptionist person basically told me "don't worry about it".

I'll probably call Wyndham's title services department tomorrow & ask them if they see any issues with processing this type of deed.
 

Saintsfanfl

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The reputable timeshare trade-in resellers do it all the time. They have lawyers and real estate agents and they swear that the process is perfectly legal. There is even a term for it which escapes me. If it wasn't legit I don't think they would be doing it for the past 10 years and more.

I do not have any love for TCS in any way but they tend to do things strictly by the book even more than many reputable mass resellers so I personally would take their advice and "not worry about it" for a timeshare.
 

funtime

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Except that the seller signed a deed over to someone. The actual buyer had not yet appeared. You cannot just substitute a new page one with the updated ebay buyer and then append the old notarized signature. That happened to us and I did not noticed it until several years later. Since a lot of these timeshares are giveaways, there is no one to step forward to say that their interests were overlooked. If it was a real estate property transaction in the hundreds of thousands, with title insurance the title would not be insurable. I really don't think it's legal.
 

Saintsfanfl

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Except that the seller signed a deed over to someone. The actual buyer had not yet appeared. You cannot just substitute a new page one with the updated ebay buyer and then append the old notarized signature. That happened to us and I did not noticed it until several years later. Since a lot of these timeshares are giveaways, there is no one to step forward to say that their interests were overlooked. If it was a real estate property transaction in the hundreds of thousands, with title insurance the title would not be insurable. I really don't think it's legal.

You may think that the process is not legal from a logic stand point but in many states it is perfectly legal to fill in the grantee at a later date. The courts logic is that the seller or grantor is giving up their interest to a yet to be determined party. The deed is only legal once the grantor is filled in.

The risk is that the "blank check" deed is void and the property was transferred on another deed. Because of this you obviously wouldn't want to do it with a house but the risk with a cheap timeshare is pretty small. More of an annoyance than anything else.
 

sts1732

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I tired using Timeshare Closing Services once. Never could get a reply or status of what they needed or where we stood as far as the sale. Couldn't get them to answer the phone after the initial contact. I had a case number and everything. Got nothing in return, so I discontinued the resale and found someone else. In your case I'd still do a title search.
 
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