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.
Nebraska Land Deed of Trust
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Multi-State
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US-00181
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Mortgage States and Deed of Trust States StateMortgage StateDeed of Trust StateMississippiYMissouriYMontanaYYNebraskaY47 more rows
Trustee; qualification. (d) Any title insurer authorized to do business in Nebraska under the laws of Nebraska. (2) The trustee of a trust deed shall not be the beneficiary named in the trust deed unless the beneficiary is qualified to be a trustee under subdivision (1)(b) or (c) of this section.
A mortgage involves only two parties: the borrower and the lender. A deed of trust has a borrower, lender and a ?trustee.? The trustee is a neutral third party that holds the title to a property until the loan is completely paid off by the borrower.
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, ...
Upon the filing of such affidavit the record of the deed of trust, mortgage, or contract shall continue to exist and be valid as notice of the existence of such deed of trust, mortgage, or contract and of any lien thereof, for an additional period of ten years from the date of the filing of such affidavit.
The Nebraska Trust Deeds Act is the statue that governs foreclosures in this state. Under this statue, foreclosure is a non-judicial remedy. The deed of trust, which secures the title to the property, is transferred to the foreclosing entity in a power of sale.
Introduction to Trust Deeds Under the Act, a borrower conveys property to a trustee in trust for the benefit of the lender. A trust deed may secure for any kind of indebtedness where the owner of the property has a property right that can be conveyed.
A mortgage or deed of trust is an agreement in which a borrower puts up title to real estate as security (collateral) for a loan. People often refer to a home loan as a "mortgage." But a mortgage isn't a loan agreement. The promissory note promises to repay the amount you borrowed to buy a home.
