0
It depends on the jurisdiction. The lender needs to file a deed of trust or a mortgage to protect its security interest in the property.
It depends on the jurisdiction. The lender needs to file a deed of trust or a mortgage to protect its security interest in the property.
It depends on the jurisdiction. The lender needs to file a deed of trust or a mortgage to protect its security interest in the property.
It depends on the jurisdiction. The lender needs to file a deed of trust or a mortgage to protect its security interest in the property.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoIt depends on the jurisdiction. The lender needs to file a deed of trust or a mortgage to protect its security interest in the property.
Add your answer:
Earn +20 pts
Can I file a quick claim on a deed in trust?
You can transfer your real property to the trustee of a trust using a quitclaim deed.
Can a note and deed of trust be placed on property for services provided?
In this state you go to the courthouse and file a lien against the property, not a deed of trust. In fact, this particular state does not use the deed of trust. In the United States, procedures involving real estate are matters of State Law.
Do you have to declare bankruptcy if you default on your mortgage?
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
Is a deed of trust a secured lien in chapter 7?
Yes, they usually are. It is up to the bank to file the lien, which they do as standard practice, otherwise it would be an unsecured loan. Yes is probably the right answer to the intent of your question. However a deed of trust is not actually a loan/lien or such in legal terms. It actually means that a 3rd party holds the deed (in trust) while there is a debt owed to the lender. If the debt isn't paid the one holding the deed has been instructed to give the title it represents to the lender. When a "deed of trust" is used there actually isn't the legal mortgage. This takes it's place nd makes foreclosure easier and faster as the one holding the deed has already been instructed to do when there is a default on the loan (that would otherwise be the mortgage).
How do you change the name on a deed of property that has changed due to marriage?
The simplest thing to do is file a copy of the marriage certificate with the deed. Or you can do a quit claim deed with the new name.
Your name is on the mortgage not on the deed. How do you get it off the mortgage?
It depends on why your name isn't on the deed. If it was a mistake, you need a lawyer to figure out the best way to get your name put onto a corrective deed. If your name is not on the deed because you obtained the property as a matter of law, then you may need to file a new deed to show you are the rightful owner, along with the papers that made you the rightful owner. Be sure to ask the lender what they were thinking when they accepted your promissory note and mortgage for a house that is not deeded to you.
Can you file a quitclaim in California when the property in question is in Texas?
No. You must file in the county where the land is located or the deed has absolutely no effect.
How do you take a name off of business deed and add new name?
If you are speaking of a deed of real estate property to a business, you would either have to (1) deed the property from the business to someone else, or (2) file a correction deed relating back to the original transaction.
Deeds of Trust Explained?
A deed of trust is a legal document often used during a home purchase. Most people are familiar with a mortgage, but not as many have heard of a deed of trust. Mortgages and deeds of trust are similar in that they are both used to provide security for a loan. However, a deed of trust is different because there are three parties involved whereas when a mortgage is used, only two parties are involved. The three parties involved in a deed of trust are the trustor, the trustee, and the beneficiary. The trustor is the person who is borrowing money to make the purchase, the trustee is the entity that holds the legal title to the property, and the beneficiary is the bank or other entity that is lending the money for the purchase. This differs from a mortgage because in the case of a mortgage, the lender also holds the title to the property until is has been paid in full. When a deed of trust is used, it is recorded with the County Recorder and is used to prove evidence that the property is being used as collateral until the loan terms are met by the borrower. When the borrower pays the loan in full, the title is then transferred back to the borrower. This happens in a process called reconveyance. However, in instances when a borrower does not meet their financial obligations, the trustee has the right to file a Notice of Default against the trustor, or borrower. When this happens, the borrower typically has a set period of time to cure the default by catching up on his payments. The time allowed depends on the state in which the deed of trust was filed. Should a borrower not cure the default, the trustee can begin foreclosure proceedings against the borrower. In the case of a deed of trust, many borrowers will opt to surrender the trust deed as opposed to going through foreclosure proceedings. This is typically referred to as a deed in lieu. A deed of trust contains a large amount of legal information. Some of the information that is typically part of a deed of trust document includes the loan amount, a legal description of the property, names of all involved parties, the provisions of the mortgage, the requirements of all parties, legal procedures to be used if a party does not comply with the trust deed, and a number of clauses and riders that pertain to the trust deed. Deeds of trust are complex legal documents and people who are using them in the purchase of a home or other property should take care to read them carefully and to be sure they understand what they are agreeing to before entering into a legally binding agreement.
How do you file a property in your name?
Property as in personal property.. a house? You need to go to your local clerk's office/courthouse and file the Deed. There is a recording fee and certified copy fee per the recorded document.
How do you find out if there is a lien on a real estate property you are looking at?
You can have a title company check for you, or you can contact the county where the property is. Liens have to be on file with the deed.
Transfer deed from individual to family trust?
The quickest and least expensive way to do this is through DeedClaim dot com. They hold your hand through the forms process and make it super easy and painless. Best part? Instead of paying an overpriced attorney, it only costs $59.99, and you're done in minutes with perfect forms for your location and specific deed needs. Cheers!
