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A security deed is used as part of a mortgage type transaction. It is a conditional conveyance of the property to the lender while the debt is outstanding. Legal title is transferred to the lender although the original owner has the right to the possession use and enjoyment of the property as long as the conditions of the loan are met. When the debt is paid the lender executes a reconveyance deed of the property back to the owner.
What else can I help you with?
Does a lender need to file a deed of trust on your 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.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.
How is a re-conveyance obtained for a deed of trust with Security Pacific national bank was trustee?
Bank of America is the successor in interest to Security Pacific National Bank which it acquired in 1992. If the property was conveyed to Security Pacific as trustee you would need a deed from BOA. You should obtain a copy of the deed of trust and review the document with a representative at BOA.
How does a Deed in Lieu Foreclosure affect Socia security benefits?
A Deed in Lieu Foreclosure can impact Social Security benefits if the forgiven debt is reported as income, potentially increasing the recipient's income and affecting benefit eligibility. It is important to consult with a tax professional to understand the implications on Social Security benefits.
What is the synonym of the word escrow?
bond, deed, guarantee, insurance, pledge, security
What is a Rescission of security deed to secure debt?
This means that the escrow paid off the first trust deed using the money from a refinancing. The cancellation of deed to secure debt occurs if a person refinances their mortgage.
What is a mortgage security instrument?
If I am separted from my husband and not divorced yet can he get a Mortage (Security Instrument) on land that he purchased before we were married but now has my name on the deed without my signature? Or if he has asked me to sign as the mortagor because my name is on the deed of the land, am I acutaly obligated to that debt?
What is supplemental deed of trust?
A supplemental deed of trust is a document that embodies the agreement of a secured real estate transaction. The property title is transferred to a trustee that holds it as security for the loan.
How can a security deed be vested in Georgia?
Well - this is kind of an ambiguous question. A Security Deed technically vests property in the Bank that is loaning the money to the property owner, and the Security Deed should be executed by any and all parties that may hold a vested interest in the property being encumbered at the time of encumbrance in order to be valid. The question you have asked is open for interpretation and really needs to be edited to be more specific. Perhaps you can elaborate a bit on the question?
What is the difference between Grant Deed and Trustee's Deed Upon Sale in CA?
A grant deed is an instrument used to transfer an interest in real estate to a new owner. In some jurisdictions this is called a warranty deed.In some jurisdictions, a deed of trust is an instrument recorded by a lender as security for a loan. This is commonly referred to as a mortgage. In other jurisdictions a deed of trust may be used to refer to a deed that transfers real property to a trustee of a trust.
If you default on your mortgage in Ohio can the bank confiscate other property you own in Alaska to pay the debt?
Not unless you gave the interest in the Alaska property as collateral for the loan. If you signed the Security Deed..debt deed with only the Ohio property (unless it contains a "blanket mortgage" clause or cross-collaterazation clause giving the address & legal description to the Alaska property) you are fine. Also the Security Deed or Debt Deed would have to be recorded in Alaska (in the city or county) where the property is to be an enforceable lien.
What is the palindrome for an act?
DEED.
Is a deed an agreement made in a specific form which unlike a contract can create legally binding obligations without the need for consideration?
A lien or security is provided by the mortgagor to a mortgagee. The collateral for the loan is evidenced by the securtity instrument or deed. The note and obligation procceeds are exchaged for the lien security and are considered mutual valuable consideration.
