This form is a deed of trust modification. It is to be entered into by a borrower, co-grantor, and the lender. The agreement modifies the mortgage or deed of trust to secure a debt described within the agreement. Other provisions include: renewal and extension of the lien, co-grantor liability, and note payment terms.
Deed Of Trust With Lien In Nassau
State:
Multi-State
County:
Nassau
Control #:
US-00183
Format:
Word;
Rich Text
Instant download
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FAQ
A deed of trust is a legal agreement that is sometimes used in place of a mortgage in real estate transactions. They are very similar, but a mortgage involves only the lender and a borrower, while a deed of trust adds a neutral third party known as a trustee.
In New York, although deeds of trust are permitted by law, a mortgage is the most common instrument used to create a lien on real property.
Commonly, both terms are used to mean the same type of legal document. A deed of trust is a legally binding document that contains a declaration of trust, but which also contains other statements (technically called 'trusts') that describe how the assets in trust should be dealt with.
A trust deed transfers property ownership to a third party or trustee rather than directly between a lender and a borrower. The property is entirely transferred to the borrower once the borrower has fulfilled the debt conditions to the lender.
How do I obtain a copy of my property deed? Property deeds are recorded in the Suffolk County Clerk's Office in Riverhead, NY. The direct phone number is (631) 852-2000.
Getting a copy of your deed in New Jersey is a relatively simple process. By visiting your County Clerk's office or their website, you can quickly obtain the necessary documents. If you encounter any difficulties, the staff at the Clerk's office can often provide assistance.