[Your Name] [Your Address] [City, State, ZIP] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Correction of Deed of Trust Assignment — [Property Address] Dear [Recipient's Name], I hope this letter finds you in good health and high spirits. I am writing to inform you about a correction that needs to be made on the Deed of Trust assignment related to the property at [Property Address]. Please consider this letter as a formal request to rectify the said assignment. To provide you with the necessary information, I have enclosed the original Deed of Trust document along with this letter. The assignment was executed on [Date] and recorded on [Date] in the [County Name] County records under Instrument No. [Instrument No.]. However, upon careful review and inspection, it has come to my attention that an error was made during the assignment process. The correction that needs to be made pertains to the assignment of the Deed of Trust from the original assignee, [Original Assignee's Name], to the corrected assignee, [Corrected Assignee's Name]. The corrected assignee's information is as follows: [Corrected Assignee's Name] [Corrected Assignee's Address] [City, State, ZIP] [Phone Number] [Email Address] I kindly request you to update the records appropriately, reflecting the corrected assignment of the Deed of Trust to the new assignee. The validity and legality of this correction is supported by the original assignment and related documents. Please ensure that the correction is accurately recorded in the [County Name] County records. If there are any fees or additional documentation required to process this correction, please let me know promptly. I am committed to fulfilling any obligations necessary to finalize this amendment. I appreciate your prompt attention to this matter. Should you have any questions or require further clarification, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. I believe resolving this issue swiftly will help avoid unnecessary complications in the future. Thank you for your cooperation, and I look forward to your positive response. Yours sincerely, [Your Name]
Oregon Sample Letter for Deed of Trust with Corrected Assignment
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FAQ
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.
The Oregon Trust Deed Act allows lenders to foreclose commercial real estate nonjudicially. This act benefits both lenders and borrowers by ensuring that lenders can protect their assets without involving the state court and by protecting borrowers from predatory lending practices.
A "Short Form Deed of Trust" is a document that is used to secure a promissory note by using real estate as collateral. When filing a Deed of Trust, it places a lien against the property.
Over to the Trustees mentioned hereunder, is hereby acknowledged by the Trustees, who hereby accept the appointment as such Trustees of the said Trust, under the terms and conditions, set out hereunder for the fulfillment of the objects of the Trust, more fully and particularly described and set out hereunder.
(8) "Trust deed" means a deed executed in conformity with ORS 86.705 to 86.815 that conveys an interest in real property to a trustee in trust to secure the performance of an obligation the grantor or other person named in the deed owes to a beneficiary.
A legal document that creates a trust, giving a person or organization the right to manage money or property for someone else, and says how this should be done: The trust deed stated clearly what they were entitled to do with the property.
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, ...
Limitations Period: Six years for an action on the Note. Ten years for foreclosure under a deed of trust. [7] It is unsettled in Oregon whether a non-judicial foreclosure is barred if the limitations period on an action under the Note has already expired.
