Utah Mortgage Deed

State:
Multi-State
Control #:
US-03109BG
Format:
Word; 
Rich Text
Instant download

Description

A mortgage deed is a document which gives a lender legal right and interest in a property. Generally, a borrower is pledging his home as security for a loan. The mortgage deed evidences the lender's ownership in the property. It operates very much the same as a mortgage or deed of trust. The lender can foreclose on the property if the debtor does not make timely payments.
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FAQ

Utah is known as a Trust Deed and Promissory Note state. There are references to a foreclosure being allowed under the law, typically in a Contract for Deed transaction but this is certainly not the standard.

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In Utah, ownership of real property, land and water rights, is transferred by a written and signed conveyance typically a deed. Prescribed forms of Quit Claim, special warranty and Warranty deeds are found in the Utah Code, ?see UCA §57-1-12, 12.5 and 13. (A copy of these forms is included in the seminar materials.)

CONTACT THE "PLANNING AND ZONING" OFFICE IN THE LOCAL JURISDICTION OF THE PROPERTY. If your property is located in unincorporated Salt Lake County, call Planning and Zoning at (385) 468-6700.

To put simply, the deed is the legal document that proves who holds title to a property, while a mortgage is an agreement between a financial lender and borrower to repay the amount borrowed to purchase a home.

A Utah deed is a document that gives two (2) parties, a seller (grantor) and a buyer (grantee), the right to exchange ownership of property for consideration, or a purchase price. The form must be completed with the Grantor authorizing in front of a Notary Public.

Document Recording Fees: Flat fee per recording: $40.00. Additional legal descriptions over 10: $2.00 each.

How can I obtain a copy of my deed? You can request a copy from our office in person or by mail. Copies are $1.00 per page. If mailing your request, please enclose the appropriate fee for the copy and a self-addressed stamped envelope.

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Utah Mortgage Deed