US Legal Forms
Utah Deed of Reconveyance by Corporate Trustee

Utah Deed of Reconveyance by Corporate Trustee

Name: Utah Deed of Reconveyance by Corporate Trustee
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.88 (359 reviews)

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Utah

Control #:

UT-S123

Format:

Instant download

Upgrade to a Package! Burning your Mortgage? Satisfaction & Release Pack. Go to Package

Description Signer Title Mortgagee

This Release - Satisfaction - Cancellation Deed of Trust - by Corporate Lender is for the satisfaction or release of a mortgage for the state of Utah by a Corporation. This form complies with all state statutory laws and requires signing in front of a notary public. The described real estate is therefore released from the mortgage.

Deed of Reconveyance by Corporate Trustee - Individual Lender or Holder

View this form

Confidentiality Agreement between Company ...

View this form

?Amendment to Listing

View this form

Instructions for Filing A County Court Cri...

View this form

Small Claims Order

View this form

TRANSPORTING A MINOR FOR SEX

View this form

West Virginia HVAC Contractor Package

View this form

VERDICT FORM

View this form

Guaranty by Distributor to Corporation of ...

View this form

Letter Advising that Lawyer is Unable to C...

View this form

Professional Corporation Package for New York

View this form

How to fill out Sooner Insurer Deed?

Searching for a Utah Deed of Reconveyance by Corporate Trustee online can be stressful. All too often, you find papers that you believe are fine to use, but discover afterwards they are not. US Legal Forms offers more than 85,000 state-specific legal and tax forms drafted by professional legal professionals in accordance with state requirements. Have any document you’re looking for quickly, hassle free.

If you already have the US Legal Forms subscription, just log in and download the sample. It’ll automatically be added in to your My Forms section. If you do not have an account, you need to sign up and choose a subscription plan first.

Follow the step-by-step recommendations listed below to download Utah Deed of Reconveyance by Corporate Trustee from our website:

Read the document description and press Preview (if available) to verify if the form suits your expectations or not.
If the document is not what you need, get others with the help of Search engine or the provided recommendations.
If it’s appropriate, simply click Buy Now.
Choose a subscription plan and create an account.
Pay with a credit card or PayPal and download the template in a preferable format.
After downloading it, you are able to fill it out, sign and print it.

Obtain access to 85,000 legal templates right from our US Legal Forms catalogue. In addition to professionally drafted samples, customers can also be supported with step-by-step guidelines regarding how to find, download, and complete templates.

Utah Reconveyance Full Draft Form popularity

Deed Reconveyance Full Other Form Names

Trust Name Deed Satisfactory Mortgagee Obligation Utah Title Deed Ut Reconveyance Corporate Download Ut Reconveyance Purchase Title Agent Reconvey Deed Reconveyance Form

Utah Reconveyance FAQ

An assignment of a deed of trust is simply the movement of the deed of trust from one party to another, a party that was not originally involved in the deed creation when the property was bought. A corporate assignment is simply an assignment of the deed of trust between different businesses.

Giving the wrong legal address for the property or the wrong amount of the debt can render the deed unenforceable. In some cases, the error is easy to fix, and the court will rule the deed is enforceable.

In a deed of trust, the borrower is called the trustor and the lender is the beneficiary. The trustee holds title to the property until the trustor has fully repaid the loan to the beneficiary, at which time the lender notifies the trustee, who then transfers full title of the property to the trustor.

A deed of trust is a method of securing a real estate transaction that includes three parties: a lender, borrower and a third-party trustee.

Only until the debt is paid off by the borrower can a deed of reconveyance then be used to clear the deed of trust from the title to the property. The document is signed by the trustee, whose signature must be notarized.

When your mortgage lender decides he wants to sell your mortgage loan to another lender, your mortgage lender will sign an assignment of deed of trust in favor of the new lender. This assignment gives the new lender the same lien on your property that your original lender had under the mortgage loan.

A mortgage holder issues a deed of reconveyance to indicate that the borrower has been released from the mortgage debt. The deed transfers the property title from the lender, also called the beneficiary, to the borrower. This document is most commonly used when a mortgage has been paid in full.

In order to clear the Deed of Trust from the title to the property, a Deed of Reconveyance must be recorded with the Country Recorder or Recorder of Deeds. If the Trustee/Beneficiary fails to record a satisfaction within the set time limits, the Trustee/Beneficiary may be responsible for damages as set out by statute.

The deed must be signed by the party or parties making the conveyance or grant; and 7.

Ut Deed Reconveyance Statement Trusted and secure by over 3 million people of the world’s leading companies

Deed of Reconveyance by Corporate Trustee

Assignments Generally: Lenders, or holders of mortgages or deeds of trust, often assign mortgages or deeds of trust to other lenders, or third parties. When this is done the assignee (person who received the assignment) steps into the place of the original lender or assignor. To effectuate an assignment, the general rules is that the assignment must be in proper written format and recorded to provide notice of the assignment.

Satisfactions Generally: Once a mortgage or deed of trust is paid, the holder of the mortgage is required to satisfy the mortgage or deed of trust of record to show that the mortgage or deed of trust is no longer a lien on the property. The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction. If the lender fails to record a satisfaction within set time limits, the lender may be responsible for damages set by statute for failure to timely cancel the lien. Depending on your state, a satisfaction may be called a Satisfaction, Cancellation, or Reconveyance. Some states still recognize marginal satisfaction but this is slowly being phased out. A marginal satisfaction is where the holder of the mortgage physically goes to the recording office and enters a satisfaction on the face of the the recorded mortgage, which is attested by the clerk.

Utah Law

Assignment: An assignment must be in writing and recorded.

Demand to Satisfy: None required. Lender or servicer who fails to release the security interest on a secured loan within 90 days after receipt of the final payment of the loan is liable. (see below)

Recording Satisfaction: Any trust deed, ... reconveyance of the trust property, if acknowledged as provided by law, is entitled to be recorded.

Marginal Satisfaction:

Penalty: A secured lender or servicer who fails to release the security interest on a secured loan within 90 days after receipt of the final payment of the loan is liable to another secured lender on the real property or the owner or titleholder of the real property for:

(a) the greater of $1,000 or treble actual damages incurred because of the failure to release the security interest, including all expenses incurred in completing a quiet title action; and

(b) reasonable attorneys' fees and court costs.

Acknowledgment: An assignment or satisfaction must contain a proper Utah acknowledgment, or other acknowledgment approved by statute.

Utah Statutes

57-1-36. Trust deeds -- Instruments entitled to be recorded -- Assignment of a
beneficial interest.

Any trust deed, substitution of trustee, assignment of a beneficial interest under a trust deed, notice of default, trustee's deed, reconveyance of the trust property, and any instrument by which any trust deed is subordinated or waived as to priority, if acknowledged as provided by law, is entitled to be recorded. The recording of an assignment of a beneficial interest in the trust deed does not in itself impart notice of the assignment to the trustor, his heirs or personal representatives, so as to invalidate any payment made by any of them to the person holding the note, bond, or other instrument evidencing the obligation by the trust deed.

57-1-38. Release of security interest.

(1) As used in this section:
(a) "Secured lender" means:
(i) a mortgagee on a mortgage;
(ii) a beneficiary on a trust deed;
(iii) a person that holds or retains legal title to real property as security for financing the purchase of the real property under a real estate sales contract; and
(iv) any other person that holds or retains a security interest in real property to secure the repayment of a secured loan.
(b) (i) "Secured loan" means a loan or extension of credit, the repayment of which is secured by a mortgage, a trust deed, the holding or retention of legal title under a real estate sales contract, or other security interest in real property, whether or not the security interest is perfected.
(ii) A judgment award secured by a judgment lien is not of itself a secured loan. A subsequent written agreement between a judgment creditor and a judgment debtor concerning payment of the judgment is a secured loan if it otherwise qualifies under the definition in Subsection (1)(b)(i).
(c) "Security interest" means an interest in real property that secures payment or performance of an obligation. Security interest includes a lien or encumbrance.
(d) "Servicer" means a person that services and receives loan payments on behalf of a secured lender with respect to a secured loan.
(2) This section may not be interpreted to validate, invalidate, alter, or otherwise affect the foreclosure of a mortgage, the exercise of a trustee's power of sale, the exercise of a seller's right of reentry under a real estate sales contract, or the exercise of any other power or remedy of a secured lender to enforce the repayment of a secured loan.
(3) A secured lender or servicer who fails to release the security interest on a secured loan within 90 days after receipt of the final payment of the loan is liable to another secured lender on the real property or the owner or titleholder of the real property for:
(a) the greater of $1,000 or treble actual damages incurred because of the failure to release the security interest, including all expenses incurred in completing a quiet title action; and (b) reasonable attorneys' fees and court costs.
(4) A secured lender or servicer is not liable under Subsection (3) if the secured lender or servicer:
(a) has established a reasonable procedure to release the security interest on a secured loan in a timely manner after the final payment on the loan;
(b) has complied with this procedure in good faith; and
(c) is unable to release the security interest within 90 days after receipt of the final payment because of the action or inaction of an agency or other person beyond its direct control.

Deed of Reconveyance by Corporate Trustee

Utah Law

Assignment: An assignment must be in writing and recorded.

Recording Satisfaction: Any trust deed, ... reconveyance of the trust property, if acknowledged as provided by law, is entitled to be recorded.

Marginal Satisfaction:

(a) the greater of $1,000 or treble actual damages incurred because of the failure to release the security interest, including all expenses incurred in completing a quiet title action; and

(b) reasonable attorneys' fees and court costs.

Acknowledgment: An assignment or satisfaction must contain a proper Utah acknowledgment, or other acknowledgment approved by statute.

Utah Statutes

57-1-36. Trust deeds -- Instruments entitled to be recorded -- Assignment of a
beneficial interest.

57-1-38. Release of security interest.

Utah Deed of Reconveyance by Corporate Trustee

Description Signer Title Mortgagee

Ut Corporate Utah Related forms

Viewed forms

How to fill out Sooner Insurer Deed?

Utah Reconveyance Full Draft Form popularity

Deed Reconveyance Full Other Form Names

Utah Reconveyance FAQ

What is a corporate assignment of deed of trust?

What makes a deed of trust invalid?

What does a trustee on a deed of trust do?

Who are the parties in a Deed of Trust transaction?

Who must sign the reconveyance of a deed of trust?

What does assignment of deed of trust mean?

WHO issues a deed of reconveyance?

How do I remove a deed of trust?

Who needs to sign a deed of trust?

Ut Deed Reconveyance Statement Trusted and secure by over 3 million people of the world’s leading companies