Can I sell my home if I have a deed of trust?

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.

US Legal Forms
Change or Modification Agreement of Deed of Trust

Trust Deed Format For Ngo In Maricopa

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

County:

Maricopa

Control #:

US-00183

Format:

Instant download

Description

The Trust deed format for ngo in Maricopa is a legal document designed to modify an existing mortgage or deed of trust. This comprehensive agreement facilitates the renewal and extension of the lien, ensuring that the debt is secured until fully paid. Key features include acknowledgment of the current lien validity, co-grantor liability clauses, and detailed repayment terms. Users must complete sections regarding borrower information, loan terms, and property description. Attorneys, partners, and legal assistants benefit from this form as it provides a structured method to formalize changes in loan agreements. It serves to protect the interests of both lenders and borrowers in future financial dealings and compliance with legal standards. Clear instructions guide users in filling out necessary details, thus avoiding common errors while ensuring the reliability and effectiveness of the document for securing financial obligations.

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FAQ

This Deed of Trust (the “Trust Deed”) sets out the terms and conditions upon which: Settlor Name (the “Settlor”), of Settlor Address, settles that property set out in Schedule A (the “Property”) upon Trustee Name (the “Trustee”), being a Company duly registered under the laws of state with registered number ...

"Trust deed" or "deed of trust" means a deed executed in conformity with this chapter and conveying trust property to a trustee or trustees qualified under section 33-803 to secure the performance of a contract or contracts, other than a trust deed which encumbers in whole or in part trust property located in Arizona ...

Recording Requirements Each document must have original signatures or carbon copies of original signatures, except when otherwise provided by law. Each document must be no larger than 8 1/2 inches wide by 14 inches long, and shall have a print size no smaller than ten point type.

You can record a document in-person, by mail, or electronically. Your document must be an ORIGINAL or government-issued CERTIFIED copy to be accepted for recording.

You will usually be discharged after four years, but some trust deeds can last for longer. This information will be included in the terms of the trust deed. If the trust deed does not become protected, your discharge will only be binding on those creditors who agreed to the arrangement.

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.

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.