West Virginia Release of Liens for Vendor's Lien and Deed of Trust Lien
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How to fill out Release Of Liens For Vendor's Lien And Deed Of Trust Lien?
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FAQ
Separate property defined. (6) Any increase in the value of separate property as defined in subdivision (1), (2), (3), (4) or (5) of this section which is due to inflation or to a change in market value resulting from conditions outside the control of the parties.
A West Virginia deed of trust transfers a borrower's real estate to a trustee to secure their financial obligation to a lender. The borrower is returned their property title upon repaying their debt to the lender.
§38-1-1. If any person convey real estate, or any interest, legal or equitable, therein, and the purchase money or any part thereof remain unpaid at the time of the conveyance, he shall not thereby have a lien for such unpaid purchase money unless such lien is expressly reserved on the face of the conveyance.
Nonresident of state not to be named trustee; corporations eligible to be trustees.
A credit line deed of trust shall be, from the time it is duly recorded as required by law, security for all indebtedness or other obligations secured thereby at the time of recording and for all future advances secured thereby in an aggregate principal amount outstanding at any time not to exceed the maximum amount ...
If any person convey real estate, or any interest, legal or equitable, therein, and the purchase money or any part thereof remain unpaid at the time of the conveyance, he shall not thereby have a lien for such unpaid purchase money unless such lien is expressly reserved on the face of the conveyance.
Short sale: Homeowners may be able to sell their property for less than the amount owed on the loan. Deed in lieu of foreclosure: Homeowners may be able to transfer ownership of their property to the lender in exchange for the release of their debt.
The lien will continue for 10 years from the date of entry. W.Va. Code § 38-3-7. The judgment may be renewed for an additional 10 years.
