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 Form With Mortgage In Virginia
State:
Multi-State
Control #:
US-00183
Format:
Word;
Rich Text
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FAQ
Mortgage or Deed of Trust? StateMortgage StateDeed of Trust State Utah ❌ ✅ Vermont ✅ ❌ Virginia ❌ ✅ Washington ❌ ✅47 more rows •
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.
Mortgage States and Deed of Trust States StateMortgage StateDeed of Trust State Texas Y Utah Y Vermont Y Virginia Y47 more rows
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 ...
Strictly speaking, a modification to a mortgage does not need to be recorded to be enforceable between the borrower and the lender, as they are bound by the modification as a matter of contract law.
How can a recorded deed be changed? The only way to change a recorded deed is to have a new deed prepared and recorded in the Clerk's Office Land Records Department. Once a document is recorded, it cannot be changed.
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, ...
After or accompanying payment in full of the obligation secured by a deed of trust or judgment lien, a settlement agent or title insurance company intending to release a deed of trust or judgment lien pursuant to this subsection shall deliver to the lien creditor by certified mail or commercial overnight delivery ...
 All deeds must be prepared by the owner of the property or by an attorney licensed to practice in Virginia.  The requirements are listed below in the code section. Click here to read about e-Recording. § 17.1-223.