This form is a deed of trust modification. It is to be entered into by a borrower, co-grantor, and the lender. The agreement modifies the mortgage or deed of trust to secure a debt described within the agreement. Other provisions include: renewal and extension of the lien, co-grantor liability, and note payment terms.
The Wyoming Change or Modification Agreement of Deed of Trust is a legal document used in the state of Wyoming to modify or make changes to an existing Deed of Trust. A Deed of Trust is a type of mortgage instrument that secures a loan by using real property as collateral. When parties involved in a Deed of Trust need to modify the terms of the agreement, they execute a Change or Modification Agreement. This agreement allows the parties involved to alter specific provisions of the original Deed of Trust while keeping the original loan intact. The purpose of this document is to accommodate changes in circumstances or to address specific issues that may have arisen since the execution of the original Deed of Trust. It provides an avenue for the parties to mutually agree on modifications without the need to refinance or create an entirely new mortgage. The Wyoming Change or Modification Agreement of Deed of Trust typically includes several crucial elements. Firstly, it identifies the original Deed of Trust by stating its recording information, the names of the parties involved, and the date it was executed. Secondly, it outlines the specific modifications being made, whether it is changing the interest rate, extending the term of the loan, adjusting the payment schedule, or modifying other terms of the original Deed of Trust. Additionally, this document includes the signatures of all parties involved, indicating their agreement to the modifications made. It is essential to have the Change or Modification Agreement properly executed and notarized to ensure its validity and enforceability. In Wyoming, there are no specific variations or types of Change or Modification Agreements for Deed of Trust. However, the exact content and provisions within the document can vary depending on the specific changes being made and the preferences of the parties involved. To sum up, the Wyoming Change or Modification Agreement of Deed of Trust is a vital legal document used to modify the terms of an existing Deed of Trust. It allows parties to alter specific provisions without the need for a complete refinancing. When considering a modification, it is advisable to consult an attorney experienced in real estate law to ensure compliance with Wyoming laws and create a legally binding agreement that meets the requirements for recording and enforcement.
