An agreement should indemnify the indemnitee against any lawful claim by any other party on account of the lost instrument, and against all costs and expenses by reason of the claim. The agreement should be sufficient in amount to cover the instrument and reasonable expenses connected with a claim against the agreement. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Washington Indemnity Against Loss Resulting from Lost or Mislaid Deed
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Multi-State
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US-01865BG
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Word;
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How to fill out Indemnity Against Loss Resulting From Lost Or Mislaid Deed?
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FAQ
A deed of trust is a document used in real estate transactions. It represents an agreement between the borrower and a lender to have the property held in trust by a neutral and independent third party until the loan is paid off.
While Washingtonians colloquially reference ?mortgages? when describing their home loans, the legal instrument that encumbers their property in Washington is more precisely a ?deed of trust.? A deed of trust is not (in the commonly-held sense) a ?deed,? in which a seller conveys title in real estate to a buyer.
Deed of Trust and Promissory Note for Real Estate Located in Washington. A deed of trust (DOT), is a document that conveys title to real property to a trustee as security for a loan until the grantor (borrower) repays the lender ing to terms defined in an attached promissory note.
Promissory notes and deeds of trust are subject to Washington's six-year statute of limitations.
In such event and upon written request of Beneficiary, Trustee shall sell the trust property, in ance with the Deed of Trust Act of the State of Washington, at public auction to the highest bidder. Any person except Trustee may bid at Trustee's sale.
