Deed In Trust Vs Deed Of Trust In Fairfax

State:
Multi-State
County:
Fairfax
Control #:
US-00183
Format:
Word; 
Rich Text
Instant download

Description

The Deed in Trust and Deed of Trust are distinct legal instruments that serve different purposes within real estate transactions in Fairfax. A Deed in Trust is typically used for estate planning, allowing a trustee to manage property on behalf of beneficiaries. In contrast, a Deed of Trust is a financial agreement securing a loan made by a lender to a borrower, involving a trustee who holds the property title until the loan is repaid. Key features of the Deed of Trust include provisions for renewal and extension of the lien, amendment of the security instrument, and obligations of co-grantors. When filling out the form, users must ensure accurate entries for dates, addresses, and amounts, and that all parties involved sign in the designated sections. The form is particularly useful for legal professionals such as attorneys, partners, and paralegals who manage or advise on real estate financing and modifications. Additionally, owners and associates can utilize it to understand their obligations when entering into or modifying a loan agreement secured by real estate. Clarity in the instrument helps safeguard all parties' interests and ensures compliance with applicable laws.
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  • Preview Change or Modification Agreement of Deed of Trust
  • Preview Change or Modification Agreement of Deed of Trust
  • Preview Change or Modification Agreement of Deed of Trust
  • Preview Change or Modification Agreement of Deed of Trust
  • Preview Change or Modification Agreement of Deed of Trust
  • Preview Change or Modification Agreement of Deed of Trust

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FAQ

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.

Deeds recorded in Fairfax County are available through the Land Records Division of the County Circuit Court. They are located in Suite 317 of the Fairfax County Courthouse (4110 Chain Bridge Rd). For more information, call 703-691-7320, or visit their website.

How do I record a homestead deed? Virginia law allows for the filing of a homestead deed within your local county Land Records office. In Fairfax County and the City of Fairfax, homestead deeds are recorded in the Land Records Division of the Fairfax Circuit Court.

All deeds must be prepared by the owner of the property or by an attorney licensed to practice in Virginia.

Legal Requirements for Deeds It should be an original or a first-generation printout as per Va. It should be written in printed ink or typed in ribbon copy, complying with general recording. All individual names need to be underlined or written in capital letters when they first appear in.

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.

If you know the instrument number or deed book and page number, you may request a copy of your deed either by mail or over the telephone by calling 703-691-7320, option 3 and then option 3 again. Send your written request to: Fairfax Circuit Court 4110 Chain Bridge Road, Suite 317 Fairfax, VA 22030.

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Deed In Trust Vs Deed Of Trust In Fairfax