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 Mortgage In Wayne
State:
Multi-State
County:
Wayne
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
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FAQ
The deed of trust must then be recorded with the county where the property is located, and each of the parties (the trustor, trustee, and lender) should keep a copy of the recorded document.
Ideally, an SMSF trust deed should be written in a way that doesn't require regular updating. However, the deed should be reviewed at least annually to ensure it's up to date.
RECORDING REQUIREMENTS Documents executed in Michigan which convey or encumber real estate require a notary's acknowledgment. Documents must be on 8.5" x 11" or 8.5" x 14" paper and must have a 2.5" top margin for the first page, and a minimum 0.5" margin on the other three sides of all pages.
In California: “An unrecorded instrument is valid as between the parties thereto and those who have notice thereof.”
Disadvantages of a Trust Deed For borrowers, if financial circumstances change, default on repayment can result in property foreclosure.
There are three (3) convenient ways to retrieve a document from our extensive files: Visit waynecountylandrecords - available 24 hours a day. Visit our office in historic Greektown (kiosks are now only available to be used from am - pm) Request a Search-by-Mail.
Typically, a deed is recorded with the local county recorder of deeds. Recording the deed gives the public notice that the grantee now legally owns the property. Not recording a deed can cause problems for the grantee. They may be unable to obtain a mortgage, insure the property, or sell it.
Documents must have all original signatures and the names must be printed, stamped, or typed beneath the signatures. Documents executed in Michigan which convey or encumber real estate require a notary's acknowledgment.
Recording Legibly printed or typed in black ink, type size 10pt, white 20lb paper with a blank margin of 2 1/2" at the top of the first page and 1/2" on all other margins. Paper size must be 8 1/2" x 11" and not larger than 8 1/2" x 14." Signatures may be in black or blue ink. (MCLA 565.201 Sec 1)