Security Instrument is generally a written instrument creating a valid first lien on a Mortgaged Property securing a Mortgage Note, which may be any applicable form of mortgage, deed of trust, deed to secure debt or security deed, including any riders or addenda thereto.
If you’re scratching your head over something, don’t hesitate to ask! It’s wise to consult with a real estate attorney or a knowledgeable professional to get clarity.
Yes, you usually can discuss modifying the terms in the addendum, but both parties will need to agree on the changes. It’s a give-and-take situation!
Not quite! Each state has its own rules, so what you find in Memphis might differ from what's in other states. It's tailored to meet local laws and customs.
The Memphis Tennessee Security Instrument Addendum is a document that helps clarify the terms and conditions related to security interests in property. It's all about protecting both the lender and the borrower.