[Your Name] [Your Address] [City, State ZIP Code] [Email Address] [Phone Number] [Date] [Receiver's Name] [Receiver's Address] [City, State ZIP Code] Dear [Receiver's Name], RE: WEST VIRGINIA SAMPLE LETTER FOR DEED OF TRUST WITH CORRECTED ASSIGNMENT I hope this letter finds you well. I am writing to provide you with a corrected assignment for the deed of trust related to the property at [Property Address] in West Virginia. I have recently discovered errors in the original assignment, which need to be rectified to ensure the accurate transfer of ownership. This corrected assignment addresses those errors and should be considered the updated and valid document. It is important to note that this corrected assignment has been prepared in accordance with the laws and regulations prevailing in the state of West Virginia. The following information regarding the parties involved and the property details is included within the revised deed of trust: 1. Borrower: [Name of Borrower] — Social Security Number: [Borrower's SSN] — Address: [Borrower's Address— - Contact Number: [Borrower's Phone Number] 2. Lender: [Name of Lender] — Address: [Lender's Address— - Contact Number: [Lender's Phone Number] 3. Assignor (Original Holder of the Deed of Trust): [Name of Assignor] — Address: [Assignor's Address— - Contact Number: [Assignor's Phone Number] 4. Assignee (New Holder of the Deed of Trust): [Name of Assignee] — Address: [Assignee's Address— - Contact Number: [Assignee's Phone Number] 5. Property Description: — Property Address: [Property Address— - Legal Description: [Legal Description of the Property] By reviewing this corrected assignment, it is evident that all necessary corrections have been made to rectify any mistakes or inconsistencies found in the original assignment. The revised document confirms the transfer of ownership rights from the assignor to the assignee in a legally compliant manner. Please carefully review the enclosed corrected assignment and, if everything appears to be in order, sign and return a copy to me at your earliest convenience. Your cooperation in resolving this matter promptly will be greatly appreciated. Should you have any questions or require further clarification, please do not hesitate to contact me. Thank you for your attention and assistance in this matter. Yours sincerely, [Your Name]
West Virginia 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.
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.
In real estate law, "assignment" is simply the transfer of a deed of trust from one party to another. This usually happens when the beneficiary of a trust deed sells their loan to another lender.
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.
With a deed of trust, the lender gives the borrower the funds to make the home purchase. In exchange, the borrower provides the lender with a promissory note. The promissory note outlines the terms of the loan and the borrower's promise (hence the name) to pay.
Ing to the term of a trust instrument, it can be defined into different types. For example: Inter Vivo trust is created when the settlor is alive. Testamentary trust is usually created through the terms of a settlor's will and goes into effect after the death of the settlor.
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.
A simple example would be the situation in which one member of a family advances money to another and asks the second member to hold the money or to invest it for him. A more complicated example of an implied trust would be the situation in which one party provides money to another for the purchase of property.
