This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Colorado Deed of Trust Securing Obligations Pursuant to Indemnification Agreement
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Multi-State
Control #:
US-01776BG
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Word;
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FAQ
The Recorded Deed of Trust, either an original or a copy, must include the parties, the grant to the Public Trustee, and the legal description of the property.. The Clerk and Recorder's stamp must be on the document and legible.
The words "statutory exceptions", when used in any deed, mean that the grantee accepts title to the conveyed property subject to: (I) Real estate taxes for the calendar year in which the conveyance occurred and subsequent years that are not yet due and payable; (II) All matters that are disclosed or that would have ...
The main difference between a deed and a deed of trust is that a deed is a transfer of ownership, while a deed of trust is a security interest. A deed of trust is used to secure a loan, while a deed is used to transfer ownership of a property.
In Colorado, most lenders prefer to use deeds of trust to secure their interest for a loan, and legal title to properties are held by the public trustee in the county where the secured property is located.
In Colorado, real estate purchases in which the purchaser borrows money to pay for property are typically secured with a Deed of Trust. Rather than a mortgage in which the parties are the borrower and the lender, a Deed of Trust is a three-party agreement among a borrower, a lender, and the county Public Trustee.
In Colorado, there are two ways for a trust to take title to real property: in the names of the trustees of a named trust or in the name of the trust itself. In both instances, a Statement of Authority must be already recorded, or recorded with the vesting deed.
The Deed of Trust makes the promissory note a debt secured by a lien on the subject property. In Colorado a promissory note must include the loan amount, payment schedule and time frame. Both borrowers and lenders must sign.
The main difference between a deed and a deed of trust is that a deed is a transfer of ownership, while a deed of trust is a security interest. A deed of trust is used to secure a loan, while a deed is used to transfer ownership of a property.
