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I need to know what the rules are for proper notarization of

Customer Question

I need to know what the rules are for proper notarization of legal assignment documents should be in NY.
I have seen some documents relevant to my cooperative loans depicting a notarization on a separate blank page from the actual documents which does not refer to them generally or in any specificity.
Furthermore, the assignment documents (proprietary lease, loan security, shares of stock) have no named assignee in the assign to fields.
Next the notarization page has states in part that the signor's ( one being notarized) residence was at an address which in fact is impossible in that the address is the address of the business same is alleged to be an employee of.
In short it seems minimally sloppy but more so I am concerned about possible mortgage fraud.
The notary was done in 1989 and I have no knowledge of the persons, and the company is out of business since that period of time.
What are the rules of a notary regarding these type of matters?
Can these fields for the assignee be left blank and be a valid assignment?
I would think I could put my name in it and it would be mine...
Submitted: 11 days ago.
Category: Business Law
Expert:  Attorney2 replied 11 days ago.

Welcome to JA and thank you for your question. I will be the Attorney that will be assisting you.

Expert:  Attorney2 replied 11 days ago.

The information should be filled out before being recorded. As far as notary requirements let me provide the link for you.

Expert:  Attorney2 replied 11 days ago.

This is another link for New York requirements for an assignment of mortgage https://www.deeds.com/information/recording-assignments-of-mortgage-in-new-york-1470076380.html

As far as Notarizing documents:

§303. Requisites of acknowledgments.

§304. Proof by subscribing witness.

This is the link for the requirements https://www.dos.ny.gov/licensing/lawbooks/notary.pdf

Expert:  Attorney2 replied 11 days ago.

Please do not hesitate to ask me any additional questions that you may have with regard to this matter. It would be my pleasure to continue to assist you.

If you would be kind enough to rate my service positively so I will receive credit for my work from the site I would appreciate it.

You may not be familiar with how the site works. The Attorneys to not receive credit from the site for their time or with customers unless the customer provides a positive rating. We answer your questions in good faith, hoping for a good faith response regardless of whether the law is in your favor or not. If you were unhappy with my service please let me know that you would prefer to work with another Attorney and I will opt out. Thank you for your consideration.

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Customer: replied 10 days ago.
In reading the above I do not see an answer clearly that talks to the form or the notarization and if a) the notary can notarize a document on another blank page that makes no reference to the contents of what they are notarizing, b) the document(s) being notarized having open blank lines (which are there, in the instant case, for the name of the assignee), and c) may have the name of an individual who is in effect the person being notarized for having the notary state in its declaration that that person 'resides' at an address which in fact is the address of the the business the person allegedly would have been working for.
I have attached a link to what I think is appropriate but I need further guidance to verify its validity as it relates to my issue (which is a transfer of cooperative stock, assignment of collateral (proprietary lease), and cooperative loan. These usually fall under the UCC statutes of NY also as they are not real property.
http://www.notarypubliccentral.com/fact%20sheet.htm
Customer: replied 10 days ago.
I also need to know if the documents are not notarized properly does it make the act therein stated void, voidable, or otherwise as a matter of law, or otherwise?
Expert:  Attorney2 replied 10 days ago.

I apologize. The requirements appeared very clear to me but that may be because I have been reading legaease for decades.

You asked specifically about what was required in an assignment.

"What is required on a mortgage assignment:

An assignment of mortgage transfers a lender’s interest in a mortgage to another party, usually a bank. Because they involve changes in the status of a real estate title, assignments must be recorded with the land records for the county where the property is located.

Under New York’s Real Property Code, in addition to meeting the same requirements for form and content as a deed, assignments must contain details about the borrower, the lender, and “a statement under oath signed by the mortgagor or any other party to the transaction having knowledge of the facts . . . , that the assignee is not acting as a nominee of the mortgagor and that the mortgage continues to secure a bona fide obligation.” (RPP § 275(3)).

The only exception is for mortgages traded on the secondary market, between commercial lenders. In those cases, the instrument must contain the following statement: “This assignment is not subject to the requirements of section two hundred seventy-five of the Real Property Law because it is an assignment within the secondary mortgage market” (§ 275(3)).

Note that all assignments presented for recording must also contain a complete listing of any prior transfers related to the same mortgage. This information helps to maintain a clear and accurate chain of title (ownership history) for the property.

Take the time to ensure that the form is complete. Include all necessary details and supporting documentation, and verify that it is filed correctly. These steps protect the interests of the parties, and should simplify future transactions involving the real estate. Mortgages and assignments can be complicated, so please contact an attorney with questions about this process.

Terms to Understand
Assignee: Receives the mortgage transferred by the assignment
Bona fide obligation: A genuine or legitimate debt
Mortgage: A conveyance of title to property that is given as security for the payment of a debt or the performance of a duty and that will become void upon payment or performance according to the stipulated terms
Mortgagee: The creditor/lender
Mortgagor: The buyer/borrower
Nominee: Holds bare legal title for the benefit of others" https://www.deeds.com/information/recording-assignments-of-mortgage-in-new-york-1470076380.html

An assignment requires a notary to be recorded. Assignments need to be recorded to have a lien on real property.

One moment for some more information.

Expert:  Attorney2 replied 10 days ago.

"14. Never take an acknowledgment/affidavit of a document in which blank spaces are left. Either have constituent write N/A or cross out blank spaces.

15. Never notarize a blank piece of paper. Have constituent obtain the proper notarial certificate for a document. No loose certificates. Make sure notarial certificate is attached to the document and contains a reference to the document if it falls on its own page." http://www.notarypubliccentral.com/fact%20sheet.htm

What a notary needs to sign:

34. Three Ways to Identify

· Personal knowledge (known for several years)

· Sworn word of a personally known 3rd party (credible witness)

· Reliable ID" http://www.notarypubliccentral.com/fact%20sheet.htm

If notary improperly provides a notary signature without the above verification they are liable. Only the court can determine if the notary's action can require the setting aside of an assignment.

These are the UCC laws http://codes.findlaw.com/ny/uniform-commercial-code/

Article 9 deals with secured transactions. Part 4. http://codes.findlaw.com/ny/uniform-commercial-

code/#!tid=N3E128C6A96E44AA9A835493FC5BE4AD8

It sounds to me that you may be looking at the validity of MERS assignment.

Customer: replied 10 days ago.
I think MERS talks to real property only unless you say otherwise. Cooperative apartments have a right to use of a particular location (apartment) and common areas of the building(s) by virtue of a proprietary lease and shares of stock. Please see link below but just view pages 8-10, 84-87 depicting the assignment(s) with and without notarization and the one with notarization is what I was talking to originally.
https://drive.google.com/open?id=0B8bYgTo7VtpEb19ETWVTdlQteVE
Expert:  Attorney2 replied 10 days ago.

Let me opt out for another Attorney.

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