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History on the house:
The property at the center of the Anna Nicole Smith controversy was handed over by the British Colonial Hilton’s developer as part of an agreement to settle allegations that he received a $3 million fraudulent preference from a failed offshore bank run by Prime Minister Perry Christie’s brother.

Ron Kelly handed the property over to BDO Mann Judd accountant Clifford Culmer, the court-appointed liquidator for Americas International Bank Corporation (AIBC), to strike an out of court settlement and avoid the expense of a Privy Council appeal.

Mr Culmer and his attorney, Callenders & Co’s senior litigation partner, Michael Scott, had won verdicts over the alleged fraudulent preference at both the Supreme court and Court of Appeal levels.

Mr Kelly had in February 2006 won leave to appeal the verdict to the Court of Appeal verdict to the Privy Council, but instead decided to settle and use his Horizons property on Eastern Road as part of the settlement.

Details of the settlement came to light last week, when Callenders & Co confirmed that it had acted for Mr Culmer in conveying Horizons to Ben Thompson, the businessman and ex-boyfriend of Ms Nicole Smith, who is alleging that the property is not hers because she never obtained a mortgage to finance its purchase. In denying conflict of interest allegations, Callenders & Co had said: As to the position regarding conflict of interest, we acted for the vendors Kelly/Culmer/Thompson (Mr George Clifford Culmer was a liquidator involved in the transaction) with the knowledge and approval of both the vendors and the purchaser. It was only at the eleventh hour that the decision was made to put tittle in the name of Ms Marshall subject to financing.
http://news.bahamianyellowpages.com/2006/10/31/anna-nicole-smith-house-central-to-3m-ron-kelly-settlement-2/

This happens all the time. Papers are signed but not recorded in the Buyers name until such time as the mortgage commitment is enforceable. The failure of Anna to sign the mortgage papers leaves the sale as one which has gone sour. (I get half a dozen jobs like this a year.

(Remember, she switched to saying it was a gift...in other words, there was no mortgage) It is HER signature which is required on the mortgage papers and it is my understanding that she didn't sign them.