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Texas Trust Deed 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.
Texas Trust Deed News
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Forecasters See Pickup in 2012 Economic Growth Memphis Daily News In conjunction with the purchase, DCTN3 330 filed a $800200 trust deed through Bank of the Ozarks. Built in 2011, the 8320-square-foot Class B building is on 0.9 acres on the east side of US 61 north of East Mitchell Road in the Third and Mitchell ... |
JOHNSON v. COPPEL - Leagle.com
JOHNSON v. COPPEL Leagle.com ... 1997 deed of trust; and (4) suit to set aside the foreclosure deed. We affirm in part and reverse and remand in part. On December 24th, 1985, Michael's brother, Calhoun Johnson, obtained a special warranty deed for a condominium in Houston, Texas. |
Daily Digest - Memphis Daily News
Daily Digest Memphis Daily News LTV Investments LLC has filed a $1.1 million trust deed through Landmark Community Bank for an 11000-square-foot shopping center in Germantown. The loan matures in January 2017. Built in 2006, the Class A center is at 9289 Poplar Ave. |
MONTGOMERY v. WELLS FARGO BANK, N.A. - Leagle.com
MONTGOMERY v. WELLS FARGO BANK, N.A. Leagle.com (West 2011), the federal Fair Debt Collection Practices Act ("FDCPA"), 15 USC § 1692 et seq., and seeking a declaratory judgment that Wells Fargo failed to provide notice as required under the terms of the Deed of Trust and Tex. Prop. |
The Florida Bar: 12 Attorneys Disbarred, 15 Suspended - Sunshine State News (blog)
The Florida Bar: 12 Attorneys Disbarred, 15 Suspended Sunshine State News (blog) A Bar review revealed problems with Nolla-Amado's trust account records, which resulted after his non-lawyer employee was granted signatory authority over his trust account. Nolla-Amado failed to supervise the non-lawyer employee, enabling the employee ... |