This form is a deed of trust modification. It is to be entered into by a borrower, co-grantor, and the lender. The agreement modifies the mortgage or deed of trust to secure a debt described within the agreement. Other provisions include: renewal and extension of the lien, co-grantor liability, and note payment terms.
Deed Of Trust Modification With Wells Fargo In Dallas
State:
Multi-State
County:
Dallas
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Contacting Wells Fargo customer service or visiting a local branch: Inform Wells Fargo of your intention to transfer your checking account into the trust. You can do this by calling their customer service or visiting a local branch. The Wells Fargo customer service number is 1-800-869-3557.
Disadvantages of a Trust Deed For borrowers, if financial circumstances change, default on repayment can result in property foreclosure.
Trusts provide much more flexibility, control, and protection for both you and your beneficiaries. They allow you to avoid probate, protect your assets and better ensure your wishes are carried out exactly as you intend.
The Trustee is usually the person that prepares the Deed of Trust. It is usually a lawyer or an employee of the Lender. The Lender can change the Trustee at any time.
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.
Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California, Colorado, the District of Columbia, Idaho, Maryland, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Oregon, Tennessee, Texas, Utah, Virginia, Washington, and West Virginia, ...
So, put simply, if your deed was not recorded or you have discovered unrecorded deeds in your chain of title, there is no need to worry. The deeds themselves will still be valid and you can file correction instruments to correct any mistakes.
You do not have to record the deed to make the transfer valid between the parties. However, as described above, the grantee will want to record the deed as soon as possible after receiving delivery.
Trust Services are available through Wells Fargo Bank, N.A. Member FDIC and Wells Fargo Delaware Trust Company, N.A. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice in your state.
Texas doesn't require you to record your trust. As long as it's signed, notarized, and properly funded, it's valid.