[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Cancellation of Deed of Trust for [Property Address] — [County], Utah Dear [Recipient's Name], I hope this letter finds you in good health and high spirits. I am writing to officially request the cancellation of the subject Deed of Trust pertaining to the property located at [Property Address], [County], Utah. As the current owner of the aforementioned property, I would like to initiate the cancellation process considering that the loan secured by the Deed of Trust has been successfully paid off in full. I have fulfilled all my financial obligations, bringing the loan to a complete and satisfactory resolution. I kindly request your immediate attention to this matter as the cancellation of the Deed of Trust will positively impact my financial standing and grant me complete ownership of the property. Your prompt response and cooperation in processing this cancellation request will be greatly appreciated. Enclosed, please find the following supporting documents for your reference and official records: 1. Copy of the fully executed Deed of Trust, as recorded in the official records of [County], Utah. 2. Proof of loan payment in full or a notarized letter from the lender confirming the satisfaction of the loan. I understand that there may be certain administrative procedures and fees associated with the cancellation process. I am willing to provide any additional information or documentation required to streamline the process, so please do not hesitate to inform me of any such requirements. Should you have any questions regarding this cancellation request, or if further clarification is needed, please do not hesitate to contact me at the phone number or email address provided above? I sincerely appreciate your attention to this matter and anticipate a timely resolution. I would like to express my gratitude in advance for your prompt action in canceling the Deed of Trust, allowing me to pursue my ownership rights without any encumbrances. Thank you for your assistance, and I look forward to your positive response. Yours sincerely, [Your Name]
Utah Sample Letter for Cancellation of Subject Deed of Trust
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FAQ
A Utah deed of trust is a legal instrument that temporarily assigns an interest in real estate to a trustee until the owner settles their financial obligation to a lender.
A deed of trust involves three parties: (1) the trustor, who is the person who received the loan, (2) the beneficiary, who is the person who loaned the money to the trustor, and (3) the trustee, who is the person that released the loan once it has been paid off.
Regarding real property transferred into trust, the deed of transfer requires recitation of the name and address of the trustee, and the name and date of the trust ( 75-7-816). Alternately, the trust instrument, signed by the grantor, may be recorded in the appropriate county recorder's office.
Responsibly Administer the Trust In general, the trustee must administer the trust in a prudent manner. The trustee is responsible for protecting trust property, enforcing claims that the trust has against other persons, keeping appropriate records and incurring only reasonable costs.
In a deed of trust, the borrower is called the trustor and the lender is the beneficiary. The trustee holds title to the property until the trustor has fully repaid the loan to the beneficiary, at which time the lender notifies the trustee, who then transfers full title of the property to the trustor.
