Secured Debt Any Formula In Collin

• Category: Real Estate - Mortgages and Deeds of Trust
• State: Multi-State
• County: Collin
• Control #: US-00181
• Format: Word; Rich Text

Description

The Secured Debt Any Formula in Collin document primarily establishes a Deed of Trust, securing the payment of a debt owed by the Debtor to the Secured Party. It outlines the terms of the loan, including the amount, installment schedule, and conditions under which the property may be sold in the event of default. Key features include the responsibility of the Debtor to maintain insurance on the property, pay taxes, and keep the property in good repair. The document also details the rights of the Secured Party to collect rents and make necessary payments on behalf of the Debtor if they fail to do so. For legal professionals such as attorneys, partners, owners, associates, paralegals, and legal assistants, this form is crucial for securing client investments and ensuring compliance with both legal obligations and financial agreements. Filling out the form requires careful attention to detail, particularly in documenting all information regarding the property and the debt. Editing instructions emphasize clarity and accuracy to ensure the rights of all parties are preserved and any future advances or obligations are included. This Deed of Trust is ideal for situations involving loans secured by real property, making it essential for effective debt management and risk mitigation.