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.
Fairfax Virginia Change or Modification Agreement of Deed of Trust
State:
Multi-State
County:
Fairfax
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Change Or Modification Agreement Of Deed Of Trust?
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FAQ
All deeds must be prepared by the owner of the property or by an attorney licensed to practice in Virginia.
In Virginia, the transfer tax is 0.1 percent, or $0.50 for every $500 of the purchase price. For a purchase price of $500,000, the transfer tax is $500. A buyer is responsible for mortgage tax. If he obtained a mortgage, he must pay 0.25 percent or $0.25 per $100 in Virginia.
Virginia Requirements for Quit Claim DeedsA legal description of the property must be included, and there should be a statement regarding how the grantor came to be in possession of the property. The deed should be notarized both parties must sign the deed in the presence of a notary public, who will also sign it.
A Virginia (VA) quitclaim deed is a legal document that gives a property owner the ability to transfer rights and ownership to their property to another party. The quitclaim deed makes no guarantee to the status of the title or the seller's ownership, so it works best between trusted parties.
How do I add someone or remove someone from my deed? To make changes to ownership of property, a new deed will need to be prepared and recorded in the Clerk's Office where the property is located. The Commonwealth of Virginia does not provide any forms for deed transfers.
The only way to change a recorded deed is to have a new deed prepared and recorded in the Clerk's Land Records Office. The deed on record cannot be changed. Once a document is recorded, it cannot be changed.
Go to the Fairfax County Circuit Court's land records counter. Ask the clerk to file the quitclaim deed with the coversheet. Pay the clerk the required fee.
301 $14.50 (2264 10 pgs) $28.50 (11-30 pgs) $48.50 (> 31 pgs) § 17.1-275(A)(2) Recording and indexing deeds without plats. Do not assess this fee if tendered by any agency of the Commonwealth of Virginia.
How to Transfer Virginia Real EstateLocate the most recent deed to the property.Create the new deed.Sign and notarize the new deed.Record the deed in the land records of the clerk's office of the circuit court in the jurisdiction where the property is located.
You will need to have the quitclaim deed notarized with the signatures of you and your spouse. Once this is done, the quitclaim deed replaces your former deed and the property officially is in both of your names. You must record the deed at your county office.
