The District of Columbia Comprehensive Commercial Deed of Trust and Security Agreement is a legal document that serves as a binding contract between parties involved in commercial real estate transactions within the District of Columbia. This agreement outlines the terms and conditions of the deed of trust, which is a legal instrument that secures the repayment of a commercial loan or mortgage. In the District of Columbia, there are different types of Comprehensive Commercial Deed of Trust and Security Agreements, each catering to specific commercial real estate transactions. Some key variants of these agreements include: 1. Purchase Money Deed of Trust: This type of agreement is commonly used when a buyer purchases a commercial property with the assistance of a loan or mortgage. The agreement specifies the terms of the loan, including the interest rate, repayment schedule, and consequences of default. 2. Construction Deed of Trust: When a commercial property is being constructed or renovated, this agreement is used to secure the loan provided by a lender. It outlines the terms, disbursement schedule, and conditions necessary for the release of funds during the construction process. 3. Subordination Agreement: This agreement is entered into when an existing lien holder agrees to subordinate their claim to a new lender, granting the new lender priority in case of default. It is often used in situations where a property owner seeks additional financing. 4. Modification Agreement: If the terms of an existing Comprehensive Commercial Deed of Trust and Security Agreement need to be modified, this agreement is used to establish the revised terms between the borrower and lender. It may include changes to interest rates, payment schedules, or loan amounts. The District of Columbia Comprehensive Commercial Deed of Trust and Security Agreement is a crucial legal document for protecting the rights and interests of all parties involved in commercial real estate transactions. It ensures that lenders are secured in their loan or mortgage investments, while borrowers have clear guidelines for their repayment obligations.
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This is a standard form security trust deed. It creates a single security trust specifically for use in syndicated finance or other finance transactions where security is held on trust by a security trustee for the benefit of a group of secured finance parties (the beneficiaries).
A security agreement is a document that provides a lender a security interest in a specified asset or property that is pledged as collateral. Security agreements often contain covenants that outline provisions for the advancement of funds, a repayment schedule, or insurance requirements.
A Security Deed can have many names. In some cases, it's known as a Deed to Secure Debt, Warranty Deed, or even a Loan Deed. It provides a full and direct legal title transfer from the borrower to the lender, leaving the equitable title with the borrower. The lender then provides the loan.
The security deed is an interest in real estate which gives legal title of property to the lender of the mortgage for the term of the mortgage note. Trust deed is a written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note.
A trust deed is a legal agreement between you and your creditors to pay back part of what you owe over a set period. This is usually four years, but may vary.
A Security Affidavit is required on all Residential Deeds of Trust and Modifications. All Judgments, Orders, etc. must be certified by the DC Superior Court. All notarized documents must include the notary seal (if applicable), signature, name and expiration date.
A security agreement is a document that provides a lender a security interest in a specified asset or property that is pledged as collateral. Security agreements often contain covenants that outline provisions for the advancement of funds, a repayment schedule, or insurance requirements.
This is a standard form security trust deed. It creates a single security trust specifically for use in syndicated finance or other finance transactions where security is held on trust by a security trustee for the benefit of a group of secured finance parties (the beneficiaries).