San Angelo Texas Sample Deed of Trust is a legal document commonly used in real estate transactions in San Angelo, Texas. It serves as a security agreement between a borrower (the trust or) and a lender (the beneficiary) to secure the repayment of a loan or other financial obligation. The San Angelo Texas Sample Deed of Trust outlines the terms and conditions of the loan, including the principal amount, interest rate, repayment schedule, and any additional provisions agreed upon by both parties. It provides legal protection to the lender, allowing them to foreclose on the property if the borrower fails to fulfill their financial obligations. There are several types of San Angelo Texas Sample Deed of Trust, each catering to specific needs or situations. These include: 1. Purchase Money Deed of Trust: This type of deed of trust is used when a buyer is financing a property purchase through a loan provided by the seller. It outlines the terms of the loan, including the down payment, interest rate, and repayment schedule. 2. Refinance Deed of Trust: This type of deed of trust is used when a borrower refinances an existing loan with a new lender. It replaces the original deed of trust with updated terms and conditions. 3. Second Deed of Trust: In some cases, a borrower may take out a second loan against their property, using it as collateral. This second loan will be secured by a second deed of trust, subordinate to the first deed of trust. 4. Home Equity Deed of Trust: Homeowners who have built equity in their properties can use it as collateral for a loan. This type of deed of trust allows borrowers to access cash for various purposes, such as home improvements or debt consolidation. It is important to note that the content and specific provisions of a San Angelo Texas Sample Deed of Trust may vary depending on the lender, borrower, and individual circumstances. It is always advisable to consult with a qualified real estate attorney or mortgage professional to ensure that the deed of trust accurately reflects the intentions and protects the interests of all parties involved.