What is a deed of trust in the United States?

A deed of trust is an agreement between a home buyer and a lender at the closing of a property. The agreement states that the home buyer will repay the home loan and the mortgage lender will hold the property's legal title until the loan is paid in full. Deed Of Trust: A Definition Rocket Mortgage rocketmortgage.com ? learn ? deed-of-trust rocketmortgage.com ? learn ? deed-of-trust

US Legal Forms
Spec Forms
District of Columbia
Satisfaction of Mortgage by a Corporation

District of Columbia Satisfaction of Mortgage by a Corporation

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

Control #:

US-01498BG

Format:

Instant download

Description

Most states have statutes that provide that a mortgage or deed of trust may be discharged in the county land records by the recorder of deeds. Generally these statutes proved that a certificate must be filed with said recorder and executed by the mortgagee or on its behalf and acknowledged as prescribed by law. The certificate must specify that the mortgage has been paid or otherwise satisfied or discharged, and should make a reference to the book and page containing the original mortgage or deed of trust.

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.

District of Columbia Partial Release or Satisfaction of Mortgage by a Corporation

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District of Columbia Owner's - Seller's - Affidavit

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District of Columbia Property Agreement

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District of Columbia Discharge of Mortgage

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How to fill out Satisfaction Of Mortgage By A Corporation?

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FAQ

Deeds of trust are used almost exclusively. A mortgage would be enforceable but would necessitate court action to enforce. There are no restrictions in the District of Columbia as to who may act as a trustee. Trustees do not need to be DC residents and can be an entity or a person.

A deed of trust is an agreement between a home buyer and a lender at the closing of a property. The agreement states that the home buyer will repay the home loan and the mortgage lender will hold the property's legal title until the loan is paid in full. Deed Of Trust: A Definition | Rocket Mortgage rocketmortgage.com ? learn ? deed-of-trust rocketmortgage.com ? learn ? deed-of-trust

(2) ?Deed of trust? means a mortgage or a deed of trust encumbering real property located in the District of Columbia as the same may be modified, amended, supplemented, or restated. (3) ?Land records? means the land records in the Office of the Recorder of Deeds of the District of Columbia. § 42?818.02. Procedures for release of deed of trust. | D.C. ... Council of the District of Columbia (.gov) ? council ? code ? sections Council of the District of Columbia (.gov) ? council ? code ? sections

While most states have either mortgages or deeds of trust, there are a few states that allow you to choose which is better for you. These states include Alabama, Arizona, Arkansas, Illinois, Kentucky, Maryland, Michigan, and Montana. What Is the Difference between a Mortgage and a Deed of Trust? gfh-law.com ? page ? what-is-the-difference... gfh-law.com ? page ? what-is-the-difference...

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, ...

Primary tabs. A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loan's lien on the property and giving the title to the borrower.

Not all states recognize a Trust Deed. Use a Mortgage Deed if you live in: Connecticut, Delaware, Florida, Indiana, Iowa, Kansas, Louisiana, New Jersey, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, Vermont, or Wisconsin. Free Deed of Trust Template & FAQs - Rocket Lawyer rocketlawyer.com ? real-estate ? document rocketlawyer.com ? real-estate ? document