Deed Of Trust Records For Sale In Utah
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FAQ
This Deed of Trust (the “Trust Deed”) sets out the terms and conditions upon which: Settlor Name (the “Settlor”), of Settlor Address, settles that property set out in Schedule A (the “Property”) upon Trustee Name (the “Trustee”), being a Company duly registered under the laws of state with registered number ...
A Deed of Trust is a security instrument used by the borrower (also called the trustor) to convey “bare legal” title to the property, to a neutral party (called Trustee), for the purposes of securing an obligation (usually of a promissory note) payable to the lender (called the beneficiary).
If the title stays with the borrower this is the definition of Lien Theory and results in a non-judicial foreclosure with the Power of Sale being entrusted to a Trustee and not the lender. In a Judicial/Mortgage foreclosure, the Title is held by the lender. Utah is known as a Trust Deed and Promissory Note state.
When a trust deed or deed of trust is recorded, the correct answer is c) The trustee holds the legal title to the property. This form of financial agreement is common in real estate transactions.
In most states, the borrower actually transfers legal title to the trustee, who holds the property in trust for the use and benefit of the borrower. In other states, the trustee merely holds a lien on the property.
Whenever the trustor (borrower) executes a deed of trust he/ she conveys “bare legal” title to the property described therein to a party called the trustee.
How can I find out what liens are on a property? You can do a title search on our website by Searching Utah County Records, or contact a title company to perform one for you.
Erecording, or electronic document recording, is the process of transmitting real property documents electronically to the local government entity charged with recording and maintaining public records.
Who May File a Lien? Any person who provides preconstruction service or construction work on or for a project at the request of the owner, including providers of materials, services, equipment or labor, may file a mechanic's lien for the reasonable value of the preconstruction service or construction work.
A Utah tax lien search can be done in person or online at the county recorder's office where a person resides. Utah tax liens are recorded at the county recorder's office and are available to members of the public upon request.
