Search In Legal Alabama Deed Of Trust Forms For Free

Deeds are usually recorded by the property owner, real estate agent, or closing attorney in the Mobile County Probate Court records department. If your deed was recorded, you may purchase a copy. For more information you can call the records department of the Mobile County Probate Court at 251-574-6000.

Both are dictated by state laws. In some states, only a mortgage is legal. In others, lenders can only use a deed of trust. A few states (like Alabama and Michigan) allow both. If your state allows both types of contracts, it's up to your lender to choose which type you receive.

If your circumstances change any you are no longer able to make your payments, your Trust Deed may fail and you will still be liable for your debts or even forced into bankruptcy.

An Alabama deed of trust transfers a property title to an independent third party known as the ?trustee? who holds onto the title until the property's owner, the ?borrower,? pays back a loan to a moneylender. This document is used as an alternative to a mortgage.

To transfer ownership from the deceased owner, the surviving owner must bring in the original title and original death certificate of deceased owner for transfer of title. If the names are joined on the title with ?and? or nothing separating the names, it is presumed by the state to be ?AND?.

The main difference between a deed and a deed of trust is that a deed is a transfer of ownership, while a deed of trust is a security interest. A deed of trust is used to secure a loan, while a deed is used to transfer ownership of a property.