Can you sell a house with a deed of trust?

Yes, you can sell a home with a Deed of Trust. However, just like a mortgage, if you're selling the home for less than you owe on it, you'll need approval from the lender.

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Land Deed of Trust

Printable Deed Of Trust Form In Arizona

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

Control #:

US-00181

Format:

Instant download

Description

The Printable Deed of Trust Form in Arizona is a legal document used to secure a loan with real property collateral. This form establishes a trust relationship between the Debtor, Trustee, and Secured Party, detailing the terms for securing the loan and repayment. It includes sections for the identification of involved parties, the indebtedness amount, and the property details. Users must complete specific sections, including the amount borrowed, repayment schedule, and legal description of the property. It is vital that users maintain accurate records of transactions and compliance with insurance and tax obligations. This form is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants in real estate transactions, as it provides a structured method for securing debts through real property. Ensuring proper filling and adherence to local laws can safeguard lenders' interests and clarify obligations for borrowers. Overall, the form serves as a practical tool for establishing legal security for loans within the Arizona jurisdiction.

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FAQ

If the deceased had a trust agreement that says you (or others along with you) get the house upon their death, it passes directly to you (and any other potential co-owners). If, however, the deceased leaves behind a spouse or minor children, you have to go through the probate process to move the title to your name.

This Deed of Trust (the “Trust Deed”) sets out the terms and conditions upon which: Settlor Name (the “Settlor”), of Settlor Address, settles that property set out in Schedule A (the “Property”) upon Trustee Name (the “Trustee”), being a Company duly registered under the laws of state with registered number ...

If you borrow from the seller of the property or another private party, you and the lender need to agree upon a third-party trustee. As with a commercial lender, you may be able to use a title company, escrow agent, real estate broker, or attorney for this purpose.

Yes, you can sell a home with a Deed of Trust. However, just like a mortgage, if you're selling the home for less than you owe on it, you'll need approval from the lender.

A deed of trust will include the same type of information stated in a mortgage document, such as: The identities of the borrower, lender, and trustee. A full description of the property to be placed in trust. Any restrictions or requirements on the use of the property while it is in trust.

Trust Deed - An instrument used to create a mortgage lien by which the mortgagor conveys his or her title to a trustee, who holds it as security for the benefit of the note holder (the lender); also called a Deed of Trust.

Where to Get a Deed of Trust? To get a Deed of Trust, you must file the proper paperwork with the proper court as generally outlined above. These documents must be filed with the county clerk or recorder, and the lender typically sends them to the recording office after the property closing.

The first requirement for nearly any real estate deed is that it must be in writing. The grantor must sign the deed in the presence of a notary public or other officer authorized to take acknowledgements (A.R.S. 33-401). Arizona provides statutory forms for quitclaim, conveyance, and warranty deeds.