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 Mortgage In North Carolina
State:
Multi-State
Control #:
US-00183
Format:
Word;
Rich Text
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FAQ
Deed of Trust Modification means, with respect to any Deed of Trust, a modification agreement entered into between the Borrower or the Project Owner, as applicable, and the Lender, modifying the terms and conditions of the Deed of Trust in order to (i) add to the lien of the Deed of Trust Additional Lots, or (ii) make ...
A few states let lenders use both trust deeds and mortgages. Still, even in these states, your lender will choose which document you'll have to sign.
Is North Carolina a Mortgage State or a Deed of Trust State? North Carolina is a Deed of Trust state.
A Deed of Amendment is a legal instrument amending one or more items specified in the original agreement/deed ('Principal Document'). It restates the terms and has the priority effect if there is any difference between the Deed of Amendment and Principal Document.
No deed or other writing purporting to convey land or an interest in land shall be declared void for vagueness in the description of the thing intended to be granted by reason of the use of the word "adjoining" instead of the words "bounded by," or for the reason that the boundaries given do not go entirely around the ...
The trustee, by a deed of amendment, varies the terms of the trust deed to convert the discretionary trust to a fixed unit trust so that each beneficiary had a fixed entitlement in the trust. Duty is payable on the variation would be on the whole of the unencumbered value of the underlying dutiable property.
Revising the terms of a trust is known as “amending” the trust. An amendment is generally appropriate when there are only a few minor changes to make, like rewording a certain paragraph, changing the successor trustee, or modifying beneficiaries.
Put simply, if the trust deed empowers the trustees to unanimously amend the trust deed, they may legally undertake such amendment regardless of whether beneficiaries have accepted benefits previously.
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, ...