A Tennessee Deed Dedicating Land to City for Public Street Purposes with Release of Lien of Deed of Trust is a legal document used when an individual or entity wishes to dedicate a portion of their property to the city or municipality for the purpose of creating a public street or roadway. This type of deed is commonly used when a new development or subdivision is being established, and the construction of new streets is necessary to accommodate increased traffic and provide access to the new properties. By dedicating the land to the city, the property owner is essentially transferring ownership and control of the specified portion of land to the municipality. This allows the city to carry out necessary improvements and maintenance on the road, such as widening, repaving, and adding sidewalks or curbs, without seeking permission from the property owner. The dedicated land becomes a part of the public street system and is subject to all applicable regulations and ordinances governing public streets. In addition to dedicating the land for public street purposes, this type of deed also includes a release of lien of a previous deed of trust. A deed of trust is a document used in real estate transactions to provide security for a loan or mortgage. It places a lien on the property, allowing the lender to take ownership of the property if the borrower defaults on the loan. However, when a deed dedicating land for public street purposes is executed, the lien on the property from the previous deed of trust is released, allowing for the clear transfer of the property to the city. There may be different variations of the Tennessee Deed Dedicating Land to City for Public Street Purposes with Release of Lien of Deed of Trust, depending on specific circumstances and legal requirements. Some possible variations could include different forms to be used for residential or commercial properties, specific clauses regarding required public amenities like street lighting or landscaping, or additional provisions related to the financing or construction of the dedicated street. It is important to consult with an attorney or legal professional to ensure that the specific requirements of the deed are met to effectively transfer ownership and release any existing liens on the property.
Tennessee Deed Dedicating Land to City for Public Street Purposes with Release of Lien of Deed of Trust
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In Tennessee, there is a one-year statute of limitations for personal injury, professional malpractice claims; but contract disputes and debt collection claims have a six-year limit. For Tennessee criminal charges, there is no limit for murder charges but a one-year statute of limitations for most misdemeanors.
A Tennessee deed of trust is used to secure the payment of a real property loan by conveying the borrower's property title to a third-party, referred to as the "trustee." The title is reconveyed to the borrower after the loan is returned to the lender, including any accrued interest.
The Register of Deeds files certain legal documents mainly pertaining to or affecting real estate and provides public access to these records.
A judgment lien in Tennessee will remain attached to the debtor's property (even if the property changes hands) for ten years.
California Civil Code §882.020 provides that a DOT has a statute of limitations of 60 years following the DOT's recording if the DOT neither includes a copy of an underlying promissory note nor indicates the date the obligation matured.
(a) Liens on realty, equitable or retained in favor of vendor on the face of the deed, also liens of mortgages, deeds of trust, and assignments of realty executed to secure debts, shall be barred, and the liens discharged, unless suits to enforce the same be brought within ten (10) years from the maturity of the debt.
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.
(a) Liens on realty, equitable or retained in favor of vendor on the face of the deed, also liens of mortgages, deeds of trust, and assignments of realty executed to secure debts, shall be barred, and the liens discharged, unless suits to enforce the same be brought within ten (10) years from the maturity of the debt.