Secured Debt Shall For Loan In Wake

• Category: Real Estate - Mortgages and Deeds of Trust
• State: Multi-State
• County: Wake
• Control #: US-00181
• Format: Word; Rich Text

Description

The Land Deed of Trust is a legal document designed to secure debt obligations, specifically structured to facilitate loans in Wake County. This form outlines the roles of the debtor, trustee, and secured party, establishing clear terms for repayment, including principal and interest. It specifies the obligations of the debtor, such as maintaining insurance on the property and paying any taxes associated with it. The document allows the secured party to take action in case of default, including the sale of the property to satisfy outstanding debts. Filling out this form requires the parties to provide detailed information, including legal descriptions of the property and payment terms. It is crucial for users to ensure all sections are completed accurately to avoid future disputes. The form is particularly useful for attorneys, partners, and legal assistants who manage financing agreements and need to ensure compliance with security laws. Paralegals and legal assistants can benefit from understanding its structure to effectively assist in real estate transactions and loan documentation.