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.
Modification Deed Trust Format For Educational Institutions In North Carolina
State:
Multi-State
Control #:
US-00183
Format:
Word;
Rich Text
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FAQ
As long as any amount remains unpaid on the underlying promissory note, the lender generally has no legal obligation to terminate or release the deed of trust. However, the borrower can always negotiate with the lender to terminate and release the deed of trust.
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 ...
You can't cancel a deed of trust without the consent of all parties named within the deed. The previous legal document is usually replaced with a new deed or lease contract and it can sometimes condition you to get additional supporting documents.
Deeds of Trust and Mortgages can be canceled or satisfied with one of these documents. Satisfaction of Security Instrument. Trustee's Satisfaction. Notice of Satisfaction. Certificate of Satisfaction. Affidavit of Satisfaction.
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 ...
"A deed seeking to convey an interest in land "is void unless it contains a description of the land sufficient to identify it or refers to something extrinsic by which land may be identified with certainty." Overton v. Boyce, 289 N.C. 291, 293, 221 S.E.2d 347, 348 (1976).
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.
North Carolina law provides for several different methods of terminating trusts, including the following: Termination by Trustee. If a trust has less than $50,000 in assets, the trustee may terminate the trust without getting court approval. Termination With Consent of Beneficiaries. Termination by the Court.
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, ...
In North Carolina, there are three main types of deeds: (1) general warranty deed; (2) special warranty deed; and (3) quitclaim deed. Each of these main types of deeds are used for different purposes. The general warranty deed is the most common type of deed used in North Carolina.