This form is an Authority to Release. The county clerk is authorized and requested to release from a deed of trust a parcel of land to the executor of the estate. The form must be signed in the presence of a notary public.
Missouri Deed Of Trust Form For Trust In Clark
State:
Multi-State
County:
Clark
Control #:
US-00186
Format:
Word;
Rich Text
Instant download
Description
Free preview
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FAQ
There are 3 ways to obtain a copy: Stop by in person. Anyone can pick it up. Send a written request to Recorder of Deeds, 729 Maple Street, Hillsboro MO 63050. Include a check for $9 per copy and a self-addressed stamped return envelope. Order over the phone with a credit card by calling 636-797-5414.
A trust deed gives the third-party “trustee” (usually a title company or real estate broker) legal ownership of the property.
You may either prepare it yourself or contact a real estate attorney to prepare it on your behalf. If you choose to prepare it yourself you will need a standardized form (Quit Claim Deed, Warranty Deed, Beneficiary Deed, any type of Affidavit, etc.) that meets Missouri formatting requirements.
An underwriter or a title agent could qualify as a trustee if it is a MO corporation. By custom, an attorney who is a resident of Missouri is usually named trustee. The lender/beneficiary selects the trustee.
Only the trustee, on behalf of the trust, may own and convey any interest in real property. The trustee may only exercise the powers granted in the trust. If there is more than one trustee, can just one join? Maybe.
Missouri Security Instruments (Deed of Trust vs. An underwriter or a title agent could qualify as a trustee if it is a MO corporation. By custom, an attorney who is a resident of Missouri is usually named trustee. The lender/beneficiary selects the trustee.
Disadvantages of a trust deed. You may lose your business banking facility. Some banks may withdraw your business account if you enter into a trust deed. You may also find it difficult to open a business account with another bank.
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.