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What is a full reconveyance note?
A recorded document which gives notice that the loan secured by the identified deed of trust has been paid in full.
Should a second deed of trust be listed on the property title or first deed of trust and does that then make the property NOT fee simple marketble title?
Both Deeds of Trust are listed in a title report. Ist Deed of Trust, fisrt position, second deed of trust, second position. Both liens will have to be paid off with a sale to clear the titl and they boths have to be shown prior to any sale, loan or refinance.
Can supplementary deed supersede trust deed?
The only effective deed is a deed signed by the current owner of the property or in the case of a trust, the current trustee of a trust that owns property. If the owner conveys property by a deed after they have granted a mortgage by a trust deed the property is subject to the mortgage and if it's not paid the lender can take possession of the property.The only effective deed is a deed signed by the current owner of the property or in the case of a trust, the current trustee of a trust that owns property. If the owner conveys property by a deed after they have granted a mortgage by a trust deed the property is subject to the mortgage and if it's not paid the lender can take possession of the property.The only effective deed is a deed signed by the current owner of the property or in the case of a trust, the current trustee of a trust that owns property. If the owner conveys property by a deed after they have granted a mortgage by a trust deed the property is subject to the mortgage and if it's not paid the lender can take possession of the property.The only effective deed is a deed signed by the current owner of the property or in the case of a trust, the current trustee of a trust that owns property. If the owner conveys property by a deed after they have granted a mortgage by a trust deed the property is subject to the mortgage and if it's not paid the lender can take possession of the property.
What is the difference between a Deed and a Deed Of Trust?
A deed is the instrument used to transfer title to real estate. A deed of trust transfers property to someone to be held in trust for another. A deed of trust can have different meanings in different jurisdictions. In some states a deed of trust has the effect of a mortgage. A trustee holds the property until the debt has been paid. In other jurisdictions a deed of trust is a deed that transfers real property to a trustee who will hold title to the property indefinitely according to the terms of the trust. The trust may be one that was created in a separate instrument that is referenced in the deed or the trust may be set forth in the deed itself.
Wage garnished student loan paid off can you get another student loan?
Yes, if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans.
Who will own the propertythe buyer or co-buyer when the loan is paid off?
The deed supersedes the loan.
Can you deduct interest on a home loan taken out from a relative not from a bank?
Here's what I found so far: To deduct interest payments paid as itemized home mortgage interest, the loan obligation must be secured by a recorded mortgage or deed of trust against the home. This can be doneby their signing and recording a mortgage or deed of trust to secure the promissory note.
Is a deed of trust a secured lien in chapter 7?
Yes, they usually are. It is up to the bank to file the lien, which they do as standard practice, otherwise it would be an unsecured loan. Yes is probably the right answer to the intent of your question. However a deed of trust is not actually a loan/lien or such in legal terms. It actually means that a 3rd party holds the deed (in trust) while there is a debt owed to the lender. If the debt isn't paid the one holding the deed has been instructed to give the title it represents to the lender. When a "deed of trust" is used there actually isn't the legal mortgage. This takes it's place nd makes foreclosure easier and faster as the one holding the deed has already been instructed to do when there is a default on the loan (that would otherwise be the mortgage).
What happens when two people sign for a loan but only one is on the deed?
Whomever signs on the dotted line is responsible. So in this case, both people are responsible for the loan being paid regardless of who is on the deed. In fact, the deed can be transferred or deeded to someone else altogether, but the 2 individuals who took out the loan are still responsible to make sure payments are paid and who will ultimately be affected if payments are not paid. The property is only collateral for the loan.
Deeding property before it is paid?
Could be a "deed in trust", meaning the deed is granted with a provision reverting its ownership to the seller if the corresponding note is not paid according to its terms.
How long does a co signer stay on a student loan?
As long as the loan is in force (until the loan is paid off)
Does a person get to stop making student loan payments when they turn 65?
if they have paid the loan off they do.
