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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The California Civil code states that a contract may be rescinded if it ?was given by mistake, or obtained through duress, menace, fraud, or undue influence, exercised by or with the connivance of the party as to whom he rescinds, or of any other party to the contract jointly interested with such party.? (Civ.
An assignment of trust deed is necessary if a lender sells a loan secured by a trust deed. It assigns the trust deed to whoever buys the loan (such as another lender), granting them all the rights to the property. It is recorded along with the original, making it a matter of public record.
You can use this special type of deed to make amendments to common, minimal errors such as misspellings, typos, missing information, and incomplete names. If your deed has a defect in the way it was executed or acknowledged, you may also use a correction deed to amend it.
In order to correct an error on a California deed, you will need to revise or modify the language in the deed to remove the error. If your deed has been signed and recorded, you will need to complete a Correction Deed or a Scrivener's Affidavit to correct the error.
Since this is an official written statement under oath, a scrivener's affidavit should be signed in front of a notary public and recorded at the courthouse with the real property records.
First, if the scrivener's error is apparent on the face of the policy, a court may correct that error by applying the general rules of contract interpretation. Second, if a scrivener's error is not apparent on the face of the policy, a court may reform the contract to correct the error if the error is a mutual mistake.
Scrivener's Affidavits are sworn statements by the person who drafted a deed. Unlike a Corrective Deed, a Scrivener's Affidavit doesn't correct anything. Instead, it simply adds information to the property records to help clarify something about the prior deed.