How many times have we all pondered why the banks never signed or acknowledged the documents? Most homeowners signed 2 sets of loan documents – and when questioning why 2 sets, most were told that the bank would send them back a confirmation set… But that never happened, did it? Would we have “voluntarily” signed 2 sets if we knew then what we know now? Doubtful we would have even signed one.
A chapter 7 trustee sought to avoid a recorded mortgage based on a defective acknowledgment and then to preserve the lien of the mortgage for the benefit of the bankruptcy estate. The mortgagee objected – arguing that the acknowledgment was sufficient, and the debtor objected – claiming a homestead exemption in the property.
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