Get Deed Of Trust Form

The name of the Trust shall be __________________ ... The above said sum of Rs. ... The term 'Trust Property' shall mean and include the said sum of Rs.

A deed of trust is a type of security for a loan that names a third party called the trustee to hold the legal title until you pay it off. The trustee is typically an entity such as a title company with "power of sale" in the event that you default on your loan payment.

When you are ready to sign a deed of trust, the parties will need to sign in the presence of a notary public. ... The deed of trust must then be recorded with the county where the property is located, and each of the parties (the trustor, trustee, and lender) should keep a copy of the recorded document.

The person who owns the property usually signs a promissory note and a deed of trust. The deed of trust does not have to be recorded to be valid.

A mortgage only involves two parties the borrower and the lender. A deed of trust adds an additional party, a trustee, who holds the home's title until the loan is repaid. In the event of default on the loan, the trustee is responsible for starting the foreclosure process.

Party information: names and addresses of the trustor(s), trustee(s), beneficiary(ies), and guarantor(s) (if applicable) Property details: full address of the property and its legal description (which can be obtained from the County Recorder's Office)

A deed of trust includes most of the same information as a mortgage, including: The original loan amount. A legal description of the property that's used as security or collateral for the mortgage. The names of parties: trustee, trustor, and beneficiary.

They serve different purposes and are signed by different parties. The warranty deed transfers the property's ownership from the current owner to the new buyer, while the deed of trust ensures the lender has interest in the property in the event a buyer defaults on the loan.

A deed of trust involves three parties: a lender, a borrower, and a trustee. The lender gives the borrower money. In exchange, the borrower gives the lender one or more promissory notes.