[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP Code] Subject: Cancellation of Deed of Trust for [Property Address] Dear [Recipient's Name], I hope this letter finds you well. I am writing to formally request the cancellation of the subject Deed of Trust for the property located at [Property Address] in Rhode Island. I am the current owner of the said property, and I would like to terminate the existing Deed of Trust to clear any encumbrances on my property. In accordance with the laws of Rhode Island, I am well aware that upon the repayment of the loan or mortgage amount in full, it is crucial to cancel the related Deed of Trust and release any liens or claims referred to in the deed. I am pleased to inform you that I have successfully fulfilled all obligations and requirements under the original agreement and have repaid the mortgage amount in its entirety. Therefore, I kindly request that you proceed with the necessary steps for the cancellation and release of the Deed of Trust associated with the property. To expedite the process, I have attached the following documents for your review and consideration: 1. Fully executed original Deed of Trust — [Insert Date] 2. Proof of full repayment, including payment receipts and/or bank statements. 3. A copy of the current property title. Please note that I expect completion of this cancellation process within the legal timeframe stipulated by Rhode Island's laws. Once the cancellation and release process are finalized, I request that you provide me with the following documents: 1. A copy of the canceled Deed of Trust. 2. A written confirmation of the release of the property title from any liens or encumbrances. I appreciate your prompt attention to this matter and understand that any associated costs, if applicable, shall be my responsibility. If you require any additional documentation or information, please do not hesitate to contact me at the provided contact details. Thank you for your cooperation in facilitating the cancellation of the Deed of Trust. I look forward to a swift resolution to this matter. Sincerely, [Your Name]
Rhode Island Sample Letter for Cancellation of Subject Deed of Trust
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How to fill out Sample Letter For Cancellation Of Subject Deed Of Trust?
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FAQ
A warranty deed promises that the grantor holds good, clear title to a piece of real estate. It promises also that the grantor has the right and authority right to sell it to the grantee or buyer. A quitclaim deed, on the other hand, makes no promises about the quality of the title to the property.
A Rhode Island deed of trust conveys a property title from a person acquiring real estate financing to a ?trustee? as a means to secure a loan from the financier.
A warranty deed is the most common type of deed used in most purchase and sale transactions. It offers the best protection for the grantee because it guarantees that the title is good and marketable. The grantor promises the grantee that the grantor will defend the grantee from any all claims made by third parties.
You can't cancel a deed of trust without the consent of all parties named within the deed. The previous legal document is usually replaced with a new deed or lease contract and it can sometimes condition you to get additional supporting documents.
Recording Requirements § 34-11-1: A quitclaim deed in Rhode Island is submitted for filing with the Recorder of Deeds in the city or town where the property is located. There is no county-level recording in Rhode Island.
Whenever property is sold or gifted, a deed must be executed by the person or entity transferring ownership, the ?grantor,? and recorded with the Clerk and Recorder in the county where the property is located. The grantor will also need to file a Realty Transfer Certificate and pay the recording fee ($8 per page).
