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Deed Of Trust Article
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A Common Question: What Is A Deed Of Trust?
from:What is a deed of trust? You may have joined the many that have asked this question when purchasing a home and taking out a mortgage. One way of describing or defining a deed of trust is as the security for your loan. When you purchase a home, you have a mortgage that describes the real estate. Your name is listed as the owner of this real estate. If you need to take out a loan to purchase this real estate (as most people do), you also have to sign loan documents listing all important information having to do with the loan. The information on the loan documents will include the dollar amount that you borrowed, the loan terms such as interest rate, length of loan, monthly payment amount, your signature and the bank's.
You're probably still asking, "What is a deed of trust?" When you sign the loan documents and the mortgage, you get one copy of the loan documents and the bank keeps another copy. The mortgage that you've signed is what they show you when you ask "What is a deed of trust?" This document is what is sent to your local register of deeds office to be recorded until such time as the loan is fully paid off. The deed of trust is the security for your loan and is recorded in your local public records office.
The deed of trust consists of three different parties involved: the trustor, the trustee and the beneficiary. The borrower, which is you, is considered the trustor. The beneficiary is the bank or lending institution that borrowed you the money. The trustee is the register of deeds or public office which holds the legal title to your real estate. A deed of trust is a legal binding document. If you're asked to sign a deed of trust and aren't sure what is a deed of trust, be sure to have them thoroughly explain everything to you.
The deed of trust will usually list the original amount of the loan, the legal description of the real estate being used as security, all individuals involved, and the start and maturity dates of the loan, any mortgage provisions, legal procedures, late fees or mortgage terms. While a deed of trust has a trustee, a mortgage does not, which often results in confusion between a deed of trust and a mortgage.
There are websites that can help you learn all about deeds of trust and mortgage so you'll never have to ask, "What is a deed of trust?" if asked to sign one. Always make sure you know what you're signing, especially since it involves your home and property.
Deed Of Trust Specific links
Deed Of Trust News
NORTH CAROLINA, CRAVEN COUNTY IN . . . - New Bern Sun Journal
NORTH CAROLINA, CRAVEN COUNTY IN . . . New Bern Sun Journal NORTH CAROLINA, CRAVEN COUNTY IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION BEFORE THE CLERK 11 SP 489 IN THE MATTER OF THE FORECLOSURE OF A DEED OF TRUST FROM CAROLYN LONG MITCHELL, DATED SEPTEMBER 8, 2000, RECORDED IN BOOK 1775, PAGE 355, ... |
IN RE SOKOLOV - Leagle.com
IN RE SOKOLOV Leagle.com Debtor is the maker of a Note in favor of Creditor, dated December 26, 2006 in the original principal amount of $139200.00 ("Note"), which is secured by a Deed of Trust encumbering the real property at 12953 Clarks Crossing Drive, Clarksburg, ... |
Details Ad Id 1311773 - Jacksonville Daily News
Details Ad Id 1311773 Jacksonville Daily News NOTICE OF SUBSTITUTE TRUSTEE'S FORECLOSURE SALE OF REAL PROPERTY 13781 11-SP-761 UNDER AND BY VIRTUE of the power and authority contained in that certain Deed of Trust executed and delivered by MICHAEL HARIDAT A/K/A MICHAEL S. HARIDAT, dated August 18, ... |
Boulder, Broomfield, Weld commercial deals: Feb. 6, 2012 - Daily Camera
Boulder, Broomfield, Weld commercial deals: Feb. 6, 2012 Daily Camera This list includes trust deeds (to secure repayment of a loan) of $750000 or more. Information includes the borrower, lender, address or legal description of the property, date the trust deed was filed and amount. James A. & Gayle G. Hepp, ... |
NORTH CAROLINA, CRAVEN COUNTY AMENDED . . . - New Bern Sun Journal
NORTH CAROLINA, CRAVEN COUNTY AMENDED . . . New Bern Sun Journal NORTH CAROLINA, CRAVEN COUNTY AMENDED NOTICE OF FORECLOSURE SALE 10 SP 414 Under and by virtue of a Power of Sale contained in that certain Deed of Trust executed by KEITH M COX AND TRACY C COX, HUSBAND AND WIFE to NEUSE INCORPORATED, Trustee(s), ... |