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Speaking of crazy, sitting in for Scottie Schang: mister Kevin Kelly from Chicago Title...and your topic for this show is ... what are the procedures to record an old deed found in a safe deposit box?

It happened that I have had three of these recently.

Man One: Three!?

Kevin Kelly: Yeah, and you know the question was if the person is passed and they executed a document the person is passed, meaning they are dead.. they passed -

Man one (interjecting): Not just

Kevin Kelly (interjecting and continuing): Yeah they are dead. So they passed, they are dead, dead dead dead, they are gone, classy dude passed away is a nicer way to put it to the wife.

Man one: So Fred dies...

Kevin Kelly: Fred dies.

Man one: Ethel goes to the safety deposit box.

Kevin Kelly: And everyone assumes it has to go to probate.

Man One: Right.

Kevin Kelly: Okay, because he was all by himself or whatever happened.

Man One: Which, by the way, we are going to talk about in the next show, and we've got some new segments coming up on the program.

Frankl: Sure.

Kevin Kelly: And then there's a deed, and they bring it in, like well... he executed this on the date, never recorded it, it was notarized, it was signed. We are good. We can record that after his death and avoid probate.

Man One: How many... what, wait a minute.

Kevin Kelly: People do it all the time.

Man One: They didn't record the deed? Isn't that, like, a requirement?

Kevin Kelly: A lot of people, you know, are going to lend our daughter money, and therefore she's going to get an interest in the property or something like that, but we don't want to record it unless something goes awry.

Frank: You will be amazed what people will do.

Kevin Kelly: People hold a lot of documents.

Man One: Wait a minute, you don't want to record? Don't you have to record it?

Kevin Kelly: No, you don't have to... once it's executed.

Man One: If you don't record it then it can't be assessed, if its not assessed you can't pay extra taxes.

Kevin Kelly (Interjecting): That's the point!

Man One (continuing): and if you are not paying extra taxes, then Uncle Sam and Mayor What's-His-Name from LA who is screwing everything up...

Frank: What?! People trying to cut on their taxes? No way! I have never heard of that.

Kevin Kelly: I know that's a shocker.

Man One: But you can't, isn't that illegal? If you find that deed?

Kevin Kelly: No

Man One: In the safe deposit box and they didn't pay taxes for twenty years because Fred was hiding it..

Frank: And people cheat on their taxes all the time, anyways because they are like...

Kevin Kelly: That's their right.

Man One: What?!

Frank: Oh, you should see how many people disqualify themselves when they try to purchase a home!

Man One (interjecting): People cheat on their taxes?!

Frank (continuing): And I want to be like, ""Yeah, see.

Man One (interjecting): That's Wrong.

Frank (continuing): That one bit you in the arse, didn't it?

Man One: Okay, so you are going to have to help me here.

Kevin Kelly: The bottom line, I guess, the easier way to phrase the question is ""If the document is signed and notarized, is it okay to record it at a later date? and the answer is yes.

As long as it was notarized and executed correctly we can record it later at any time later, bottom line.

Frank: Yeah, who knew.

Kevin Kelly: So when you find those documents in safety deposit boxes contact the title company.

Man One (interjecting): It happens.

Kevin Kelly: and have us do the chain of title so we know if it was a duplicate that got done later, and this one just didn't get done. Where does it fit, because people just walking into the recorder with stuff they found in safety deposit boxes...

Man One (interjecting): Right.

Kevin Kelly (continuing): It is record-able but, it may screw with the chain of title at which point you don't want to do that, so that was kind of the crux of the question.

Man One: Wow, that's weird!

Kevin Kelly: It is weird!

Man One: That is just ..

Kevin Kelly: People hoard documents just like they hoard other stuff.

Frank: Kitties?

Man One: Hoard what?

Fran: Kitties!

Man One: Yeah, Kitties.

Kevin Kelly: Cats and crazy stuff!

Man One: Hoarding kitties? You watch the wrong... You watch cable - you are watching some crazy cable shows! You have no idea what Dragnet is, but you can horde kitties?!