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 Records For A Business In Michigan
State:
Multi-State
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
Description
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FAQ
A trust deed gives the third-party “trustee” (usually a title company or real estate broker) legal ownership of the property.
RECORDING REQUIREMENTS Documents must have all original signatures and the names must be printed, stamped, or typed beneath the signatures. Documents executed in Michigan which convey or encumber real estate require a notary's acknowledgment.
Disadvantages of a Trust Deed For borrowers, if financial circumstances change, default on repayment can result in property foreclosure.
A Michigan deed successfully transfers real estate only if the deed is correctly formatted, contains all required information, and is signed, notarized, and recorded in compliance with Michigan law.
State of Michigan Recording Requirements 1. Signatures must be original; and names must be typed or printed beneath signatures. 2. No discrepancy shall exist between names printed in the notary acknowledgment and as printed beneath signatures.
Deeds are not like the certificate of title to a vehicle, which must be an original. While it is good practice to keep your original deed, it is not required to sell your property, as long as it has been properly recorded.
If you do not have your deed, then you can get a recorded copy of it at the Register of Deeds; and a recorded copy is just as good as the original. You can come in person, send us a request by mail, or search online. Search and copy fees will apply.