Secure Debt Shall Foreclose In Harris
State:
Multi-State
County:
Harris
Control #:
US-00181
Format:
Word;
Rich Text
Instant download
Description
The Secure Debt Shall Foreclose in Harris is a legal document known as a Land Deed of Trust that serves as a security instrument for loans. This Deed of Trust outlines the relationship between the debtor (borrower), the secured party (lender), and the trustee, who holds the property title until the loan obligations are fulfilled. It details the debtor's acknowledgement of an indebtedness to the secured party and sets the terms for repayment, including monthly installments and provisions for additional advances. Key features include the ability for the secured party to foreclose on the property if the debtor defaults, as well as terms related to insurance, taxes, and property management obligations. This document is crucial for ensuring that loans are secured against property, allowing lenders to recover debts through foreclosure if necessary. For the target audience, including attorneys and paralegals, this form provides essential legal protection for lenders while clarifying the responsibilities of debtors, making it a vital tool in securing financial transactions involving real estate.
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