This is an official Washington form for use in land transactions, a Deed of Trust [Long Form] (with representative acknowledgment).
The King Washington Deed of Trust — Long For— - with representative acknowledgment is an essential legal document used in real estate transactions within the state of Washington. This particular deed of trust provides details and protection for both the lender (also known as the beneficiary) and the borrower (also known as the trust or). By outlining the terms and conditions of the loan, this document acts as a binding agreement ensuring that the borrower complies with the agreed-upon repayment plan. The King Washington Deed of Trust consists of several important sections. The "Parties" section clearly identifies the lender and the borrower, including their legal names, addresses, and contact information. In addition, the "Property Description" section provides a detailed description of the property being financed, including the address, legal description, and any additional details that accurately identify the property. The "Terms of the Loan" section outlines the essential terms and conditions of the loan agreement between the lender and the borrower. These terms usually include the loan amount, interest rate, repayment schedule, and any specific provisions agreed upon by both parties. The lender's rights and responsibilities, as well as the borrower's obligations, are also clearly defined in this section. Furthermore, the "Escrow Instructions" section specifies the process for handling the funds and relevant documents during the transaction, while the "Hazard Insurance" section ensures that the property is insured against any potential risks. The "Representations and Warranties" section includes statements made by both the lender and the borrower, confirming the accuracy of the provided information and the legitimacy of the transaction. One important aspect of the King Washington Deed of Trust is the "Representative Acknowledgment." This section requires the representative of the beneficiary, usually an attorney or a trustee, to officially acknowledge their understanding and acceptance of the terms and conditions outlined in the deed of trust. By doing so, they confirm that they have the authority to act on behalf of the lender and that they comply with the necessary legal requirements. While the King Washington Deed of Trust — Long For— - with representative acknowledgment covers the essential aspects of a loan agreement, it's worth noting that there may be slight variations or customization according to the specific needs of the lender and the borrower. This ensures that the document adequately reflects their preferences and any additional legal considerations. Keywords: King Washington Deed of Trust, long form, representative acknowledgment, real estate transactions, lender, borrower, legal document, loan agreement, repayment plan, parties, property description, terms of the loan, escrow instructions, hazard insurance, representations and warranties.The King Washington Deed of Trust — Long For— - with representative acknowledgment is an essential legal document used in real estate transactions within the state of Washington. This particular deed of trust provides details and protection for both the lender (also known as the beneficiary) and the borrower (also known as the trust or). By outlining the terms and conditions of the loan, this document acts as a binding agreement ensuring that the borrower complies with the agreed-upon repayment plan. The King Washington Deed of Trust consists of several important sections. The "Parties" section clearly identifies the lender and the borrower, including their legal names, addresses, and contact information. In addition, the "Property Description" section provides a detailed description of the property being financed, including the address, legal description, and any additional details that accurately identify the property. The "Terms of the Loan" section outlines the essential terms and conditions of the loan agreement between the lender and the borrower. These terms usually include the loan amount, interest rate, repayment schedule, and any specific provisions agreed upon by both parties. The lender's rights and responsibilities, as well as the borrower's obligations, are also clearly defined in this section. Furthermore, the "Escrow Instructions" section specifies the process for handling the funds and relevant documents during the transaction, while the "Hazard Insurance" section ensures that the property is insured against any potential risks. The "Representations and Warranties" section includes statements made by both the lender and the borrower, confirming the accuracy of the provided information and the legitimacy of the transaction. One important aspect of the King Washington Deed of Trust is the "Representative Acknowledgment." This section requires the representative of the beneficiary, usually an attorney or a trustee, to officially acknowledge their understanding and acceptance of the terms and conditions outlined in the deed of trust. By doing so, they confirm that they have the authority to act on behalf of the lender and that they comply with the necessary legal requirements. While the King Washington Deed of Trust — Long For— - with representative acknowledgment covers the essential aspects of a loan agreement, it's worth noting that there may be slight variations or customization according to the specific needs of the lender and the borrower. This ensures that the document adequately reflects their preferences and any additional legal considerations. Keywords: King Washington Deed of Trust, long form, representative acknowledgment, real estate transactions, lender, borrower, legal document, loan agreement, repayment plan, parties, property description, terms of the loan, escrow instructions, hazard insurance, representations and warranties.
