Deed Of Trust Modification With Assignment Of Rents In Fairfax

• Category: Real Estate - Mortgages and Deeds of Trust
• State: Multi-State
• County: Fairfax
• Control #: US-00183
• Format: Word; Rich Text

Description

The Deed of Trust Modification with Assignment of Rents in Fairfax is a legal document designed to modify existing mortgage agreements between a borrower, co-grantor, and lender. This modification agreement adjusts the terms of the original deed of trust, which secures a debt, ensuring it remains valid and enforceable. Key features include a renewal and extension of the lien, amendments to the security instrument, and provisions for co-grantor liability, ensuring that any non-borrowing co-grantors' interests are acknowledged without imposing financial obligations on them. Users must fill in specific details such as the modification date, payment terms, and the description of the property. This form is particularly useful for attorneys, partners, and associates working in real estate or financial sectors, helping them facilitate debt modifications efficiently. Paralegals and legal assistants can also benefit from this form's clarity, serving as a robust template for various scenarios where modification of existing loans or trusts is necessary, ultimately contributing to smoother transactions in property management and refinancing efforts.