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 With No Maturity Date In North Carolina
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Multi-State
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US-00183
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Word;
Rich Text
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FAQ
Under the Marketable Title Act, “the duration of a debt secured by a deed of trust is limited to 10 years after the final maturity date of the debt, if that date can be ascertained from the recorded evidence of indebtedness (i.e., the mortgage or deed of trust), or, if no maturity date is evident, to 60 years after the ...
If a deed of trust recorded in California does not contain a maturity date, then the lender has up to 60, and possibly even 64 years to foreclose non-judicially, but the longer the lender waits, the more likely it is that a borrower could successfully raise a defense of equitable estoppel or laches.
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, ...
(3) For the foreclosure of a mortgage, or deed in trust for creditors with a power of sale, of real property, where the mortgagor or grantor has been in possession of the property, within ten years after the forfeiture of the mortgage, or after the power of sale became absolute, or within ten years after the last ...
In North Carolina, a deed of trust or mortgage acts as a conveyance of the real estate. Upon repayment of the debt or performance of the obligation, the conveyance becomes void.
In North Carolina, whether your potential case involves damage to real property (your house or your land, for example) or personal property (including vehicle damage), it usually must be brought to the state's civil court system within three years. This rule can be found at North Carolina General Statutes section 1-52.