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Last July 2010 I entered a contract to pawn a parcel of land I just fully paid on the 1st quarter of last year, however I wasn't able to transfer the title to my name yet when I pawned the property.I entered the contract casually by simply writing a letter that includes the interest and duration of the pawn and we signed it both,no witness and not notarized. No other documents were signed during that time.The term is to pay it back in a year with an interest of 5%/month for a period of 1 year. This July is the end of the term.I was only able to pay 2 months of interest.Last month the person I pawned the property with insisted that me and my wife sign some documents that is to be notarized,so we did.My question is,is that document valid to be used as if it was signed the day we entered the contract to pawn?Also, in regards to the property pawned,as of this date I still haven't been able to process the transfer of title to my name yet,I know there's a corresponding penalty that needs to be paid,but in case I will not be able to payoff the balance,if they insist to transfer the property to his name,what options do I have,if any, aside from settlement, if they don't want to settle and just want to take the property? 
