Deed Of Trust Without Promissory Note In Pima
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FAQ
In a deed of trust, the borrower (trustor) transfers the Property, in trust, to an independent third party (trustee) who holds conditional title on behalf of the lender or note holder (beneficiary) for the purpose of exercising the following powers: (1) to reconvey the deed of trust once the borrower satisfies all ...
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.
Disadvantages of a Trust Deed For borrowers, if financial circumstances change, default on repayment can result in property foreclosure.
Example: When used in a real estate transaction, the promissory note covers the promise to repay the amount owed, interest, and maturity date — while the deed of trust or mortgage outlines the other responsibilities of the parties involved more precisely.
Legal Rights of the Deed Holder The person whose name is on the deed is the legal owner of the property. That means that they have the right to make decisions about the property – including selling it.
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.
Arizona Recorders Information Real property records are maintained by the recorder in the county where the property is located. A deed cannot be recorded unless it is accompanied by a completed and signed Affidavit of Property Value form.
First, search by your address or parcel number to locate your property. The current deed will be located under the "Deed Number" under the section "Owner Information". Once you locate your document, you may view an unofficial copy online.
Contact the County Recorders Office for the county in which the property is located. with any licensing boards overseeing the trade. Some records may be held at the Arizona State Archives.
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.
