[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Correction of Assignment for Deed of Trust Dear [Recipient's Name], I trust this letter finds you well. I am writing to address a correction required for the Assignment of Deed of Trust for the property located at [Property Address]. This correction is necessary to rectify an error made during the initial assignment process. Firstly, let me provide a brief background of the situation. On [Original Assignment Date], the original Deed of Trust for the aforementioned property was assigned to [Assignee]. However, it has come to my attention that there is an error in the initial assignment, which needs immediate correction to ensure accurate property ownership records. The error lies in the document's recording details, specifically in the description of the property. The legal description of the property mentioned in the Assignment of Deed of Trust is inaccurate, as it incorrectly cites the parcel number, boundaries, or any other relevant details. To promptly correct this assignment, I have prepared a revised Colorado Sample Letter for Deed of Trust with Corrected Assignment, which includes the necessary corrections and addresses the errors made in the initial assignment. This revised document includes the accurate legal description of the property, ensuring the records reflect the correct information. Furthermore, I kindly request your assistance in reviewing this corrected assignment carefully and making the required amendments to the property ownership records accordingly. This will help avoid any future confusion or legal complications related to the property. To facilitate the process, I have included the revised Colorado Sample Letter for Deed of Trust with Corrected Assignment with this letter (either as an attachment or a separate document). Please review it diligently, confirm the accuracy of the corrections, and follow the appropriate protocol for updating the property records accordingly. In case you require any further clarification or information, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. I will be readily available to address any concerns or queries that may arise. Thank you for your attention to this matter and for your prompt assistance in rectifying the errors in the Deed of Trust assignment. Your cooperation is greatly appreciated, and I look forward to a prompt resolution. Yours sincerely, [Your Name]
Colorado Sample Letter for Deed of Trust with Corrected Assignment
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How to fill out Colorado Sample Letter For Deed Of Trust With Corrected Assignment?
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FAQ
What Is Assignment in a Deed of Trust? In real estate law, "assignment" is simply the transfer of a deed of trust from one party to another. This usually happens when the beneficiary of a trust deed sells their loan to another lender.
The Recorded Deed of Trust, either an original or a copy, must include the parties, the grant to the Public Trustee, and the legal description of the property.. The Clerk and Recorder's stamp must be on the document and legible.
A correction deed, correction mortgage, or reformation deed is an instrument executed by the former grantor of an instrument that contains a certain defect or deficiency, or by said grantor's heirs, representatives, or assigns for the purpose of correcting or amending a mistake or defect contained in the instrument.
A Colorado deed must be recorded with the county clerk and recorder for the county where the property is located to provide formal notice of the transfer. The standard recording fee?including a statutory surcharge?is $13.00 for the first page, plus $5.00 for each additional page. Documentary Fee.
The correction deed must be executed from the original grantor to the original grantee and state that its purpose is to correct a specific error, identified by type. It references the prior deed by date(s) and recording/reception number, as well as county of recording.
To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.
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.
Over to the Trustees mentioned hereunder, is hereby acknowledged by the Trustees, who hereby accept the appointment as such Trustees of the said Trust, under the terms and conditions, set out hereunder for the fulfillment of the objects of the Trust, more fully and particularly described and set out hereunder.
In Colorado, most lenders prefer to use deeds of trust to secure their interest for a loan, and legal title to properties are held by the public trustee in the county where the secured property is located.
