Debtor is obligated to pay the secured party attorneys fees. In consideration of the indebtedness, debtor conveys and warrants to trustee certain property described in the land deed of trust.
Debtor is obligated to pay the secured party attorneys fees. In consideration of the indebtedness, debtor conveys and warrants to trustee certain property described in the land deed of trust.
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A Deed of Trust, also know as a mortgage, is a lien on property to ensure payment of the money due to a lender. It is a separate document recorded in the land records. Every time a loan is made (or refinanced), a new document is recorded.
A deed of trust is the most common method of securing a lien on real estate in Missouri. Mortgages are rarely used.
Both a warranty deed and deed of trust are used to transfer the title of a property from one person to another. However, the difference between these two contracts is who is protected. As you now know, a deed of trust protects the beneficiary (lender). A warranty deed, on the other hand, protects the property owner.
Deed of Trust ? A deed of trust is the recorded document by which a lender takes a security interest in a property. It gives the lender the right to foreclose on the property if the borrower does not make payments on the loan.
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.
A deed of trust is the most common method of securing a lien on real estate in Missouri. Mortgages are rarely used.
Deed of Trust only. The trustee must be a MO resident individual over the age of 18 or a MO corporation. If a non-resident individual or foreign corporation is named as trustee, a MO resident individual or MO corporation must be added as co-trustee.