is california a deed of trust or mortgage state
Deeds of trust
12066138
the beneficiary is required by law to promptly direct the trustee to transfer the property back to the trustor by reconveyance, thus releasing the security for the debt. Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California, Colorado, the District of Columbia, Idaho, Maryland, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Oregon, Tennessee, Texas, Utah, Virginia, Washington, and West Virginia, whereas most other states use mortgages. Besides purchases, deeds of trust can also be used for loans made for other kinds of purposes where real estate is merely offered
Deed of trust (real estate)
2974635
power of sale," also called "nonjudicial foreclosure", and is authorized by many states if a "power of sale" clause is included in the mortgage or if a deed of trust with such a clause was used, instead of an actual mortgage. In some US states, like California and Texas, nearly all so-called mortgages are actually deeds of trust. This process involves the sale of the property by the mortgage holder without court supervision (as elaborated upon below). This process is generally much faster and cheaper than foreclosure by judicial sale. As in judicial sale, the mortgage holder and other lien
Foreclosure
1882796
of a nonpossessory lien to a lender for the performance under the terms of a mortgage note. In slightly less than half of states, a mortgage creates a lien on the title to the mortgaged property. Foreclosure of that lien almost always requires a judicial proceeding declaring the debt to be due and in default and ordering a sale of the property to pay the debt. Many mortgages contain a power of sale clause, also known as nonjudicial foreclosure clause, making them equivalent to a deed of trust. Most "mortgages" in California are actually deeds of trust. The effective difference
Mortgage law
12066145
predominant in the case law since then. Though a mortgage is technically an entirely different legal instrument (as noted above), deeds of trust are frequently called mortgages in the real estate loan business due to the functional similarity between deeds of trust and mortgages. Although a deed of trust usually states that the borrower is making an "irrevocable" transfer to the trustee, it is common in many jurisdictions for borrowers to obtain second and third mortgages or trust deeds that make similar transfers to additional trustees (that is, of a property they already conveyed to the trustee on their first
Deed of trust (real estate)
8644120
inordinately narrow timeframe, via the serial recording of multiple Deeds of Trust or Assignments of Note. When recording a legal document in the United States of America, a time gap exists between when the Deed of Trust is submitted to the recorder of deeds & when it actually shows up in the data. The precision timing technique of "working the gap" between the recording of a deed & its subsequent appearance in the recorder of deeds database is instrumental in propagating the perpetrator's deception. A title search done by any lender immediately prior to the respective loan, promissory note, &
Mortgage fraud
1882798
mortgage in that, in many states, it can be foreclosed by a nonjudicial sale held by the trustee through a power of sale. It is also possible to foreclose them through a judicial proceeding. Deeds of trust to secure repayments of debts should not be confused with trust instruments that are sometimes called deeds of trust but that are used to create trusts for other purposes, such as estate planning. Though there are superficial similarities in the form, many states hold deeds of trust to secure repayment of debts do not create true trust arrangements. The so-called deed to secure
Mortgage law
8644121
deed recording would thus erroneously fail to show the alternate liens concurrently in the queue. The goal of the perpetrator is the theft of funds from each lender by deceit, with all lenders simultaneously & erroneously believing their respective Deeds of Trust to be senior in position, when in actuality there can be only one. White-collar criminals who utilize this technique will frequently claim innocence based on clerical errors, bad record keeping, or other smokescreen excuses in an attempt to obfuscate the true coordination & intent inherent in this version of mortgage fraud. This "gaming" or exploitation of a structural
Mortgage fraud
8510295
for sale, investors must come up with these additional funds. Mortgage Funds (also, “Mortgage Pools”) resemble equity mutual funds, funds composed of a wide selection of stocks. Investors deposit money in a fund: The fund is managed by mortgage brokers or mortgage bankers certified by the State. Money within the fund is lent to borrowers and is secured by First (or Second or Third) Deeds of Trust naming the FUND as the holder, rather than individual investors. By purchasing shares in a mortgage fund, and as interest is earned from monthly mortgage payments, the fund generates income. There are approximately
Private money investing
12066134
Deed of trust (real estate) In real estate in the United States, a deed of trust or trust deed is a deed wherein "equitable" title in real property is transferred to a trustee, which holds it as security for a loan (debt) between a borrower and lender. The "legal" title remains with the borrower. The borrower is referred to as the trustor, while the lender is referred to as the beneficiary. Transactions involving deeds of trust are normally structured, at least in theory, so that the lender/beneficiary gives the borrower/trustor the money to buy the property; the borrower/trustor tenders the
Deed of trust (real estate)
12066146
deed of trust). As with mortgages, deeds of trust are subject to the rule "first in time, first in right," meaning that the beneficiary of the first recorded deed of trust may foreclose and wipe out all junior deeds of trust recorded later in time. If this happens, the junior debt still exists, but may become unsecured. If the debtor has sufficient senior secured claims upon his assets, lacks equity, or is otherwise insolvent, the junior liens may be wiped out completely in bankruptcy. Deed of trust (real estate) In real estate in the United States, a deed of trust
Deed of trust (real estate)
1882800
timely record the deed to secure debt may affect priority and therefore the ability to enforce the debt against the subject property. In the United States, more states are lien-theory states than are title-theory states. In title-theory states, a mortgage continues to be a conveyance of legal title to secure a debt, while the mortgagor still retains equitable title. In lien-theory states, mortgages and deeds of trust have been redesigned so that they now impose a nonpossessory lien on the title to the mortgaged property, while the mortgagor still holds both legal and equitable title. The lien is said to
Mortgage law
12066141
statutes or case law) at the trustee's sale. The trustee then issues a deed conveying the legal and equitable title to the property in fee simple to the highest bidder. In turn, the successful bidder records the deed and becomes the owner of record. Thus, the advantage of deeds of trust is that the lender can recover the value of the collateral for the loan much more quickly, and without the expense and uncertainty of suing the borrower, which is why lenders overwhelmingly prefer such deeds to mortgages. While true mortgages (limited to judicial foreclosure) remain available in every state
Deed of trust (real estate)
12066135
money to the seller; the seller executes a grant deed giving the property to the borrower/trustor; and the borrower/trustor immediately executes a deed of trust giving the property to the trustee to be held in trust for the lender/beneficiary. In reality, an escrow holder is always used so that the transaction does not close until the escrow holder has the funds, grant deed, and deed of trust in their possession. This ensures the transaction can be easily rescinded if one party is unable to complete its part of the deal. Deeds of trust differ from mortgages in that deeds of
Deed of trust (real estate)
2199494
(in most jurisdictions) actually not a deed at all—it is actually an estoppel disclaiming rights of the person signing it to property. In some jurisdictions, a deed of trust is used as an alternative to a mortgage. A deed of trust is not used to transfer property directly. It is commonly used in some states — California, for example — to transfer title to land to a “trustee”, usually a trust or title company, which holds the title as security ("in escrow") for a loan. When the loan is paid off, title is transferred to the borrower by recording a
Deed
1882795
of trust, because of their provisions for non-judicial foreclosures by trustees through "power of sale" clauses. Three types of security over real property are commonly used in the United States: the title mortgage, lien mortgage, and deed of trust. In the United States, these security instruments proceed off of debt instruments drawn up in the form of promissory notes and which are known variously as mortgage notes, lender's notes, or real estate lien notes. A mortgage is a security interest in realty created by a written instrument (traditionally a deed) that either conveys legal title or hypothecates title by way
Mortgage law
13313638
system fixed this problem in that most standard loan documents were changed to name MERS as the nominal beneficiary or mortgagee of record. This enabled lenders and investors to transfer mortgages without recording assignments in local recorders' offices and in turn avoided having to pay recording fees. Ideally, assuming a loan is properly paid back on time, a MERS loan needs only two documents to be recorded: the original mortgage or deed of trust naming Mortgage Electronic Registration Systems, Inc., and a reconveyance of the mortgage or deed of trust back to the borrower (thus merging legal and equitable title).
Mortgage Electronic Registration Systems
3755267
of the sale. Likewise, a due-on-sale clause would interfere with a seller's extension of financing to a buyer by using a wraparound mortgage, also called an "all-inclusive mortgage", "all-inclusive deed of trust", "all-inclusive trust deed", or "AITD." Any of these arrangements triggers the due-on-sale clause in the seller's existing mortgage and thus the lender may call the loan due. If a property with a due-on-sale clause in the mortgage loan is transferred and the loan is not paid off, the bank could call the loan and then foreclose on the property if the buyer is unable to immediately tender the
Due-on-sale clause
13313653
with the relevant registers of deeds in counties across Kansas. The judges determined that a mortgage contract consists of two documents: a deed of trust (which secures the property as collateral) and the promissory note (which indents the borrower to the lender), and determined that ""in the event that the mortgage loan somehow separates interests of the note and the deed of trust... with the deed of trust lying with some independent entity... the mortgage may become unenforceable."" On April 30, 2010, a Kansas appellate court in "MERS, Inc. v. Graham", 44 Kan. App. 2d 547, 2010 WL 1873567, at
Mortgage Electronic Registration Systems
8510284
with commercial real estate lending. The trend in California is towards mortgage funds or mortgage pools, which are structured and operate similar to commercial banks. Private Money Bankers or Real Estate Bankers, are groups, individuals, companies or funds, that pool private money, and then lend those pooled funds for profit. Investors range from private individuals, trusts, and LLCs to pension funds. Individual investors generally have substantial knowledge and experience in real estate or trust deed investing. Individual investors are tending to pool their money with other sophisticated investors through pooling via Private Money Bankers, also known as Real Estate Bankers,
Private money investing
12066140
sale" clauses, the courts have uniformly held that by executing a deed of trust with a "power of sale" clause, the owner has authorized the trustee to conduct a nonjudicial foreclosure in the event of default. That is, unlike a mortgage, the lender need not sue the borrower in a state court; instead, the lender/beneficiary merely directs the trustee to mail (or serve, publish, or record) certain notices required by law, culminating in a "trustee's sale" at which the trustee auctions the property to the highest bidder. The borrower's equitable title normally terminates "automatically" by operation of law (under applicable
Deed of trust (real estate)
12862159
Trust deed investment company A licensed trust deed investment company (TDIC) offers investments in collateral-backed property loans in the United States. Unlike private individuals who are generally subject to usury laws limiting interest rates on loans, TDICs can legally lend to property owners at rates determined by market demand. Because TDICs usually lend to borrowers with needs banks cannot accommodate (e.g., fast turnaround, multiple-use real estate projects), market rates for trust deed investments are usually significantly higher than bank mortgage rates. TDICs originate, underwrite, fund and service the loans for individual and/or group investors. Trust deed investors receive regular interest
Trust deed investment company
14251929
Mortgage elimination Mortgage elimination is a type of debt elimination in the United States. In this process, the promoter first convinces a mortgage holder (lender) that the debt that has been contracted is invalid or legally unenforceable, usually due to a combination of technicalities in the note, deed of trust, or other loan documentation signed; the promoters often link their rationale for debt elimination to illegality of certain lending practices, the Federal Reserve, and the monetary system of the United States in general. Through a series of illegal maneuvers involving the creation of a trust, a demand letter, and a
Mortgage elimination
12066142
that enforces "power of sale" clauses, they are quite rare. Any prospective borrower who specifically asks for a true mortgage from a commercial lender in such a state necessarily brings his or her creditworthiness into question (since if they were confident in their own ability to repay the loan, they would not need to make such a request), and any rational lender willing to extend credit to less creditworthy borrowers will insist on harsher terms, including the use of a deed of trust with a "power of sale" clause. The time periods for the "trustee's sale" or "power of sale"
Deed of trust (real estate)
12066139
as collateral, and are also used to secure performance of contracts other than loans. A deed of trust has a crucial advantage over a mortgage from the lender's point of view. If the borrower defaults on the loan, the trustee has the power to foreclose on the property on behalf of the beneficiary. In most U.S. states, a deed of trust (but not a mortgage) can contain a special "power of sale" clause that permits the trustee to exercise these powers. Here is the standard conveyance clause from a Freddie Mac "uniform instrument": In the states that enforce "power of
Deed of trust (real estate)
13313630
a market based on mortgages in the early 1980s. This is because every time a financial instrument containing mortgages is sold, various state laws may require that the sale of each such mortgage (or deed of trust) be recorded in the local county courts in order to preserve certain rights ("e.g.", the right to foreclose non-judicially), which triggers an obligation to pay corresponding recording fees. So, the financial industry, eager to trade in mortgage-backed securities, needed to find a way around these recordation requirements, and this is how the MERS system was born to replace public recordation with a private
Mortgage Electronic Registration Systems
3021444
only imposed by states. Typically when real estate is transferred or sold, a real estate transfer tax will be collected at the time of registration of the deed in the public records. In addition, many states impose a tax on mortgages or other instruments securing loans against real property. This tax, known variously as a "mortgage tax", "intangibles tax", or "documentary stamp tax", is also usually collected at the time of registration of the mortgage or deed of trust with the recording authority. Stamp duty Stamp duty is a tax that is levied on documents. Historically, this included the majority
Stamp duty
13213921
Mortgage modification Mortgage modification is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e. mortgagee and mortgagor in mortgage states; Trustee and Trustor in Trust Deed states). In general, any loan can be modified, and the process is referred to as loan modification or debt rescheduling. In the normal progression of a mortgage, payments of are made according to the loan documents until the mortgage is paid in full (or paid off). The lender holds a lien on the property and if the borrower
Mortgage modification
13313657
to do so; and (2) even if they did, the plaintiff consented to the use of MERS to initiate the foreclosure when he signed the deed of trust. "Gomes" expressly cited to and relied upon the state supreme court's 2010 decision in "Lu v. Hawaiian Gardens Casino, Inc.", which clarified that a certain conservative method of statutory analysis (first articulated by Associate Justice Frank K. Richardson in 1979 and adopted by a majority of the court in a 1988 opinion by Chief Justice Malcolm M. Lucas) applies to "all" California statutes, not just the California Insurance Code. Thus, if the
Mortgage Electronic Registration Systems
4130363
have begun to take action through suits of their own and the refusal (in some jurisdictions) of the courts to recognize the legal authority of MERS assignments. The assignment of mortgage (deed of trust) and note (obligation to pay the debt) paperwork outside of the traditional US county courts (and without recordation fee payment) is subject to legal challenge. Legal inconsistencies in MERS originally appeared trivial, but they may reflect dysfunctionality in the entire US mortgage securitization industry. Mortgage-backed security A mortgage-backed security (MBS) is a type of asset-backed security (an 'instrument') which is secured by a mortgage or collection
Mortgage-backed security
1882797
is that the foreclosure process can be much faster for a deed of trust than for a mortgage, on the order of 3 months rather than a year. Because this foreclosure does not require actions by the court, the transaction costs can be quite a bit less. The deed of trust is a conveyance of title made by the borrower to a trustee (not the lender) for the purposes of securing a debt. In lien-theory states, it is reinterpreted as merely imposing a lien on the title and not a title transfer, regardless of its terms. It differs from a
Mortgage law
2974631
for overdue taxes, unpaid contractors' bills or overdue homeowner association dues or assessments. The foreclosure process as applied to residential mortgage loans is a bank or other secured creditor selling or repossessing a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its
Foreclosure
14965097
Christopher K. Hart Christopher K. Hart is the President and Vice Chairman of First California Mortgage in Petaluma, California. Hart is responsible for restarting First Cal, a company his father helped to found, in 2002. His responsibilities include overseeing the general direction of the company, as well as negotiating and structuring the company’s relationship with Wall Street, secondary market investors and depository banks. Hart is also a principal and director of Standard Trust Deed Service, RSVP, and FCMC Insurance Agency. He is a licensed California real estate broker and member of the Fannie Mae Western Region Advisory Board. Hart received
Christopher K. Hart
15457649
in state law that allows lawyers to assert that their client, typically a bank, has the right to foreclose on a property even though they might not have the original mortgage paperwork to prove it. Colorado is the only state in the country that allows an unsworn statement by an attorney for a foreclosing party – without any penalty – to say, ‘Trust me, judge, these guys are the qualified holder for this deed of trust,’ “Is there another state that has lowered the bar for a foreclosure any lower?” In April 2015, Williams voted against HB 1258, the "paid
Angela Williams (politician)
6957311
by its form number: UCC-1) in the appropriate state office (usually the office of the Secretary of State) in the U.S. state in which the debtor is located. See U.C.C. §§ 9-301, 9-310. For real property, the creditor records a security instrument such as a mortgage or deed of trust in the county where the real property is located. Secured transactions in the United States Secured transactions in the United States are an important part of the law and economy of the country. By enabling lenders to take a security interest in collateral (that is, the assets of debtors), the
Secured transactions in the United States
16412493
the new mortgagees claiming priority: Held, that the Court would not interfere to take away the legal estate which passed to the new mortgagees under the reconveyance. The trustees of a settlement advanced the trust money on the security of real property which was conveyed to them by the mortgagor, the mortgage deed noticing the trust. The surviving trustee afterwards induced the mortgagor to execute a deed by which the mortgaged property purported to be conveyed to the trustee as on a purchase by him, though no money in fact passed. The trustee then, concealing the prior mortgage, and shewing
George Pilcher
16412492
of his purchase. The trustees of a settlement advanced the trust money on the security of real property which was conveyed to them by the mortgagor, the mortgage deed noticing the trust. The surviving trustee of the settlement afterwards reconveyed part of the property to the mortgagor on payment of part of the mortgage money, which he appropriated. The mortgagor then conveyed that part of the property to new mortgagees, concealing, with the connivance of the trustee, both the prior mortgage and the reconveyance. When the fraud was discovered, the cestuis que trust under the settlement filed a bill against
George Pilcher
6711588
Mac, and Ginnie Mae. The process of selling a loan from the mortgage bank to another investor is referred to as selling the loan on the secondary market. This is in contrast to the primary market, which for mortgages typically refers to the bank buying the mortgage deed of trust from the homeowner for the face amount of the loan, adjusted for discount points and other price adjustments. Mortgage banks sell the loans because the funds received pay down their warehouse lines of credit which enables the mortgage bank to continue to lend. A mortgage bank is not regulated as
Mortgage bank
6249082
The document used by lenders to obtain a lien on real property is a mortgage or deed of trust. The security agreement sets out the various rights the grantee will have with respect to the collateral, which are in addition to all other rights which the lender may have by law, such as those rights contained in Article 9 of the Uniform Commercial Code which has been adopted in some form by each state in the United States. The Security Agreement also addresses issues such as permitted sales or other transactions with the collateral in the ordinary course of the
Security agreement
7566975
contracts, a seller does not provide a loan to the buyer; the contract either does not specify a loan or includes provisions for a loan from a different "third party" lender, usually a financial institution in practice. When third party lenders are involved, typically a lien, as part of a mortgage or trust deed, is placed on the property, in which the property serves as collateral until the loan is repaid. Other terms for a land contract include: It is common for the installment payments of the purchase price to be similar to mortgage payments in amount and effect. The
Land contract
2974652
if debtors wish to enjoy the additional protection of the formalities of judicial foreclosure, it is their burden to find a lender willing to provide a loan secured by a traditional conventional mortgage instead of a deed of trust with a power of sale. Courts have also rejected as frivolous the argument that the mere legislative act of authorizing or regulating the nonjudicial foreclosure process thereby transforms the process itself into state action. In turn, since there is no right to due process in nonjudicial foreclosure, it has been held that it is irrelevant whether the borrower had actual notice
Foreclosure
13163381
Ship mortgage In a ship mortgage, a shipowner gives a lender (or mortgagee) an interest in a ship as security for a loan. Similar to other types of mortgage, a ship mortgage legally consists of three parts: the mortgage loan, the mortgage document (deed) and the rights derived from the mortgage deed onto money lender. Ship mortgages differ from other types of mortgage in three ways. First, some privileged claims could have a higher ranking over that of mortgagee against the ship. Second, ships naturally move between jurisdictions. And third, a ship is always at risk of partial or total
Ship mortgage
13827065
promissory note or mortgage note and mortgage or deed of trust creates an immediate and fatal flaw in title. The Kansas Supreme Court went on to cite several other case across the nation and stated: "When the role of a servicing agent [MERS] acting on behalf of a mortgagee is thrown into the mix, it is no wonder that it is often difficult for unsophisticated borrowers to be certain of the identity of their lenders and mortgagees." In re Schwartz, 366 B.R. 265, 266 (Bankr. D. Mass. 2007) and then cited the Supreme Court of New York (Kings County) that
Landmark National Bank v. Kesler
6565361
involved, especially in terms of land and building. Different states in India have different Trusts Acts in force, which govern the trusts in the state; in the absence of a Trusts Act in any particular state or territory the general principles of the Indian Trusts Act 1882 are applied. The main instrument of any public charitable trust is the trust deed, wherein the aims and objects and mode of management (of the trust) should be enshrined. In every trust deed, the minimum and maximum number of trustees has to be specified. The trust deed should clearly spell out the aims
Non-profit laws of India
6957307
promissory note that is secured by a mortgage or deed of trust on real property, which is regulated by Article 9. This latter distinction is important in the context of the sale and purchase of promissory notes secured by real property. There are a variety of situations in which this distinction is important. For example, a non-depository mortgage lender may fund their operations with a warehouse line of credit, while a distressed loan workout specialist may obtain a line of credit. The first makes loans for the purchase of real property; the second will acquire nonperforming loans at a discount
Secured transactions in the United States
1882799
debt is a security instrument used in the state of Georgia. Unlike a mortgage, a security deed is an actual conveyance of real property - without equity of redemption - in security of a debt. Upon the execution of such a deed, title passes to the grantee or beneficiary (usually lender), however the grantor (borrower) maintains equitable title to use and enjoy the conveyed land subject to compliance with debt obligations. Security deeds must be recorded in the county where the land is located. Although there is no specific time within which such deeds must be filed, the failure to
Mortgage law
302829
in the notary journal based on the transaction in question (e.g., deed, quitclaim deed, deed of trust affecting real property, power of attorney document, et cetera). Documents with blank spaces cannot be notarized (a further anti-fraud measure). California explicitly prohibits notaries public from using literal foreign language translation of their title. The use of a notary seal is required. Notarial acts performed in Colorado are governed under the Notaries Public Act, 12-55-101, et seq. Pursuant to the Act, notaries are appointed by the Secretary of State for a term not to exceed four years. Notaries may apply for appointment or
Notary public
18113418
States. The assumption of a mortgage by the purchaser is typically included as part of the deed, although there is no requirement that it has to be in writing. In most jurisdictions, an explicit assumption is required. If a deed is silent or ambiguous on the matter, the court will assume the purchaser did not intend to assume the mortgage. However, some allow the assumption to be implied based on the behavior of the parties. For example, making payments on the mortgage can evince an intent to assume it, as can paying less than the value of the property (if
Mortgage assumption
15575797
Kirstine. There are documents extant today which provide clues about Andrew Mowat's life. One such is the Mortgage or deed of pawn papers signed on 20 June 1597, by both Anders and Else Mowat as the landowners. The granters of the deed are Andrew Mouat of Hugoland (" Houckeland ") in Shetland, and his spouse Else Trondsdatter, who is declared to be owner of the lands in her own right. She is designed as " of Erisfiordt " or Erisfirth in Norway, and it is signed at Gieresvig in that country on 20 June 1597. Mortgage, or Deed of Pawn,
Anders Mowatt of Hugoland
19176697
way for a husband-to-be to make adequate financial provision for his wife-to-be. This prevented a wife from otherwise becoming destitute as a result of the husband deserting his wife, or from having to resort to prostitution in order to support herself. Background<br> On 11 March 1891, Florence's husband Charles Conybeare conveyed various properties by way of a mortgage to William Henry Luard Pattisson and to the parties referred to in Point 2 of the 1896 Deed of Trust. In this mortgage arrangement, Charles Conybeare was able to secure a loan of ₤3,000 from his moneylenders, using the properties as collateral
Florence Annie Conybeare
9903902
USA Capital Popularly known as USA Capital, hard money lender USA Commercial Mortgage Co.(USACM) was a Las Vegas, Nevada based mortgage broker owned by Tom Hantges, Joe Milanowski which went bankrupt in 2006. Rodney Balinski was also a part of the company, as Tom Hantges' and Joe Milanowski's assistant. 'USA Capital', the hard money lender USA Commercial Mortgage Co.(USACM), was a Las Vegas, Nevada based mortgage broker owned by Tom Hantges and Joe Milanowski. Affiliated with the lending/brokerage activity at USACM was a management company, USA Securities, and two funds, the First Trust Deed Fund and for Nevada residents only,
USA Capital
7776573
towards your debts. If, after learning how a trust deed works, you do decide to go ahead, the necessary paperwork will have to be signed. There are two types of trust deed – protected and unprotected. An unprotected trust deed is not binding for a creditor (company or other) who doesn’t agree to the terms. A protected trust deed meanwhile is binding for the creditor, although they have a five-week period in which to appeal. It’s in the interest of the trustee to have the trust deed protected, but it’s not essential. It is also worth noting that a trust
Protected trust deed
4360056
which it is located.” Furthermore, although the regular homestead exemption provides no protection against legal process to enforce the payment of obligations contracted for the purchase of the property, or for improvements made thereon (including any mechanic's lien lawfully obtained), or for legal taxes, or for any mortgage or deed of trust executed upon the property, the holder of an allodial title is fully exempt from all of these under the homestead laws. The only area within the homestead laws wherein allodial title fails to provide an extra benefit is in the realm of civil and criminal forfeiture of property.
Allodial title
7776576
be shown they either didn't refuse to cooperate or couldn't reasonably be expected to. Protected trust deed A protected trust deed, overseen by the Accountant in Bankruptcy, is a voluntary but formal arrangement that is used by Scottish residents where a debtor (who can be a natural person or partnership) grants a "trust deed" in favour of the trustee which transfers their estate to the trustee for the benefit of creditors. Any person wanting to make an application for a protected trust deed must have been a resident of Scotland for at least six months prior to making the application.
Protected trust deed
17761128
thumb) may be required in the notary journal based on the transaction in question (e.g., deed, quitclaim deed, deed of trust affecting real property, power of attorney document, et cetera). Documents with blank spaces cannot be notarized (a further anti-fraud measure). California explicitly prohibits notaries public from using literal foreign language translation of their title. The use of a notary seal is required. Notarial acts performed in Colorado are governed under the Notaries Public Act, 12-55-101, et seq. Pursuant to the Act, notaries are appointed by the Secretary of State for a term not to exceed four years. Notaries may
Notary public (United States)
7776566
Protected trust deed A protected trust deed, overseen by the Accountant in Bankruptcy, is a voluntary but formal arrangement that is used by Scottish residents where a debtor (who can be a natural person or partnership) grants a "trust deed" in favour of the trustee which transfers their estate to the trustee for the benefit of creditors. Any person wanting to make an application for a protected trust deed must have been a resident of Scotland for at least six months prior to making the application. This can be a way for people to deal with debt problems by protecting
Protected trust deed
19268565
to secure a claim. The mortgage shall be created through registration in the Property Register on the grounds of a contract or by operation of law. It may be established only on separately specified properties and for a specific sum of money. A mortgage by operation of law: The creation of a mortgage is invalid if either the mortgage contract or the application for creation of a mortgage by operation of law or the deed pursuant to which it is filed does not specify the identity of the creditor or the owner or the debtor, or does not specify the
Law of obligations (Bulgaria)
2893808
problems that have their source in past events. This often results in the curing of title defects or the elimination of adverse interests from the title before a transaction takes place. Title insurance companies attempt to achieve this by searching public records to develop and document the chain of title and to detect known claims against or defects in the title to the subject property. If liens or encumbrances are found, the insurer may require that steps be taken to eliminate them (for example, obtaining a release of an old mortgage or deed of trust that has been paid off,
Title insurance
11056287
the settlor of the trust or, if the trust provides for such, a protector or enforcer of the trust) depend on the terms of the trust deed. Trust law includes both mandatory law (that is, law which cannot be excluded, such as the irreducible core, information rights and the supervisory jurisdiction of the court) and default law (that is, law which can be excluded by express provision in the trust deed). The trust deed, therefore, has a significant role to play in determining the rights and obligations of the parties in that default law (such as fiduciary obligations and rights
Equitable interest
8930097
Mortgage note In the United States, a mortgage note (also known as a "real estate lien note", "borrower's note") is a promissory note secured by a specified mortgage loan. Mortgage notes are a written promise to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise. While the mortgage deed or contract itself hypothecates or imposes a lien on the title to real property as security for a loan, the mortgage note states the amount of debt and the rate of interest, and obligates the borrower, who signs the note,
Mortgage note
11259718
Deed of Grant in Trust A Deed of Grant in Trust (or DOGIT) is the name for a system of community-level land trust established in Queensland to administer former reserves and missions. They came about through the enactment by the Queensland Government of the "Community Services (Torres Strait) Act" and "Community Services (Aborigines) Act" in 1984, allowing community councils to be created to own and administer former reserves or missions under a Deed of Grant in Trust (DOGIT). The trusts are governed by local representatives who are elected every three years to councils called Incorporated Aboriginal Councils. These councils have
Deed of Grant in Trust
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payment (or, depending upon circumstances and the view of the trustee, no penalties at all). Taking out future debts becomes difficult. In order to enter such an agreement with your creditors, you must be a resident of Scotland. You need to consult the services of an insolvency practitioner who will be able to explain all your options to you, based on your present financial situation. The qualified practitioner will evaluate your income to debt ratio, such as mortgage, council tax, utility bills, and all other outgoings. Whatever is left from your earnings will be divided in equal proportions to pay
Protected trust deed
7776574
deed debt must be a minimum of £5,000 to become protected. When one agrees to enter into a trust deed, you take on the responsibilities and obligations of a regular legally binding contract to repay your debt. As such when one agrees to the terms of the trust deed you commit to: Where, however, you experience a change in circumstances during your trust deed, such as unemployment, the trustee should review your finances to assess what is an appropriate level of contribution. This may mean you will only have to pay a reduced contribution or no contribution. Likewise, if during
Protected trust deed
4334481
finance, mezzanine loans are often used by developers to secure supplementary financing for development projects (typically in cases where the primary mortgage or construction loan equity requirements are larger than 10%). These sorts of mezzanine loans are often secured by a second ranking real property mortgage (that is, ranking subordinate to the first mortgage lenders). Standard mortgage foreclosure proceedings can take more than a year, depending upon the relationship between the first mortgage lenders and the mezzanine debt lender, governed by an Intercreditor Deed. Mezzanine capital In finance, mezzanine capital is any subordinated debt or preferred equity instrument that represents
Mezzanine capital
1882789
this type of mortgage is no longer available in relation to registered interests in land, by virtue of section 23 of the Land Registration Act 2002 (though it continues to be available for unregistered interests). In a mortgage by legal charge or technically "a charge by deed expressed to be by way of legal mortgage", the debtor remains the legal owner of the property, but the creditor gains sufficient rights over it to enable them to enforce their security, such as a right to take possession of the property or sell it. To protect the lender, a mortgage by legal
Mortgage law
7776570
be effective and home owners will be required to deal with equity in their home, should they have any. This can normally be dealt with without selling, although where there is an excessive amount of equity the debtor may be required to sell the property. Normally, equity can be dealt with by remortgaging, or extra monthly payments. The trust deed does not stop a person from being self-employed. While in the protected trust deed, a person may not incur debt of more than £500. A common misconception is that credit can continue to be used while in a trust deed,
Protected trust deed
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Talco State Bank, chartered in 1912, merged with Guaranty Bank & Trust in 1997. In 1999, Guaranty Bank & Trust acquired First American Financial Corporation, with its Sulphur Springs and Commerce, Texas locations, and wholly owned mortgage company. The renamed Guaranty Mortgage Company was folded into the bank in 2000. In 2011, the Fort Stockton location was sold to West Texas State Bank. First State Bank of Hallsville, Texas merged with Guaranty Bank & Trust in August 2013. Guaranty Bancshares acquired DCB Financial in 2015. In 2015, Guaranty Bank & Trust acquired Preston State Bank, a subsidiary of DCB Financial
Guaranty Bank & Trust
1966670
civil action may have been his defense; however, a gag order prevents details from being known. Other states, like Florida, require a judicial hearing. Foreclosure without a judicial hearing can occur when a "power of sale clause" exists in a mortgage or deed of trust. A self-published report by a professor at the University of Washington disputes the claim that HOAs protect property values, stating, based on a survey of Harris County, Texas (which had an unusual legal regime regarding foreclosures): "Although HOA foreclosures are ostensibly motivated by efforts to improve property values, neither foreclosure activity nor HOAs appear linked
Homeowner association
1882781
the land would reinvest in the borrower, but if not the lender would retain title. If repaid on time, the lender would reinvest title using a reconveyance deed. This was the mortgage by conveyance (aka "mortgage in fee") or, when written, the mortgage by charter and reconveyance and took the form of a feoffment, bargain and sale, or lease and release. Since the lender did not necessarily enter into possession, had rights of action, and covenanted a right of reversion on the borrower, the mortgage was a proper collateral security. Thus, a mortgage was on its face an absolute conveyance
Mortgage law
4858011
In sum, under Georgia law, execution of a mortgage (called a "Deed to Secure Debt" or "Security Deed") by one co-tenant does not sever the joint tenancy. However, in jurisdictions which use the "lien theory", the mortgage merely places a lien on the property, leaving the joint tenancy undisturbed. As a lien is not enough to terminate a joint tenancy, if the debtor dies before the creditor sues, the creditor is left with no claim against the property, as the debtor's interest in the property evaporates and automatically vests in the other surviving co-owners. A co-owner of a joint tenancy
Concurrent estate
17929116
a $10M mortgage from the Mercantile Trust Company National Association and an additional $3.5M in financing from the Teamsters Pension Fund. In exchange, the Teamsters Pension Fund received a first deed of trust on Rancho Peñasquitos, and a 20% share in the Rancho Peñasquitos development corporation. By the early 1970s, additional capital was needed to finance the large-scale development that was expected to take place in the 1970s – Kahn's plan involved creating homes for more than 150,000 people. Though Kahn was able to refinance the project, his sudden death in 1973 put those plans in jeopardy. The vision for
Irvin Kahn
11752397
Trust deed of Brahmo Sabha The modern religious philosophy of Brahmoism is based in part on the foundations of reformer Raja Ram Mohan Roy's humanitarian philosophy, as exemplified by the Trust Deed of Brahmo Sabha, known to Brahmos as the "1830 Brahmo Trust Deed". On August 20, 1828 the first assembly of the Brahmo Sabha was held at Kolkata (Calcutta), India. This Sabha was convened by religious reformer Raja Ram Mohan Roy for his family and friends settled there. These were essentially informal meetings of Bengali Brahmins, open to all Brahmins, and there was no formal organisation or theology as
Trust deed of Brahmo Sabha
20266184
transferred in December 1987 to Allied Bank, the primary mortgage holder, as a deed in lieu of foreclosure. The bank's property managers reoriented Catfish Town toward being an office park, based on a marketing study that found that Baton Rouge did not have the population or tourism base to support a festival marketplace. The Resolution Trust Corporation (RTC) was brought in as a tenant in December 1989, and would come to occupy more than half of the complex's leasable space. Catfish Town was put up for sale in April 1992 by NAB Asset Corp., which had come to own the
Belle of Baton Rouge
7776567
the debtor from the legal enforcement of debts which are included in the trust deed, but only once it has become protected. It will not reverse any action that has been taken prior to the trust deed, such as earning or bank arrestments, although the trustee may negotiate the lifting of any arrestment. Many people who enter trust deeds are able to keep their homes, but where there is equity, that equity will normally have to be realised to "swell" the estate. This can be achieved by third-party buy-outs or remortgaging, but in extreme cases may be through the sale
Protected trust deed
16359540
Re Denley's Trust Deed Re Denley’s Trust Deed [1969] 1 Ch 373 is an English trusts law case, concerning the policy of the "beneficiary principle". It held that so long as the people benefitting from a trust can at least be said to have a direct and tangible interest, so as to have the "locus standi" to enforce a trust, it would be valid. In 1936 the settlor company, HH Martyn & Co Ltd, from Sunningend Works, Cheltenham, transferred land to trustees to, under clause 2(c), "be maintained and used as and for the purpose of a recreation or sports
Re Denley's Trust Deed
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rescue artist or an arranged investor. The rescue artist or arranged investor pays off the amount owed in foreclosure to acquire the deed, and inherits or is paid any portion of the homeowner's remaining equity. The rescue artist will reconvey the property back to the homeowner in the form of a lease or a contract for deed. The homeowners remain in the home and pay rent or contract-for-deed payments (often higher than their previous mortgage payments). They inevitably fall behind, and are evicted from their homes with very little of their equity. Several states have passed laws to prevent and/or
Equity stripping
15603733
main kinds of security interest, whereby a proprietary right that binds third parties is said to arise on conclusion of a contract. It must simply be the contract's intention to make property available to secure repayment. The Law of Property Act 1925 section 85 say that a mortgage requires a deed (under LPMPA 1989 section 1, a document that is signed, witnessed and states it is a deed). Under the Land Registration Act 2002 sections 23 and 27, a notice of a mortgage must be filed with HM Land Registry for the mortgage to be effective. Then, Law of Property
English land law
20902876
hospital, furnish and endow it, on the proviso that the State would upgrade Springwood's water supply. In May 1934 a Deed of Trust between Buckland Esq. and Trustees: Thomas Buckland; Rt. Rev. Sydney James Kirkby, Bishop Coadjutor of the Diocese of Sydney; Dr. C. K. Hogg, inspector-general of mental hospitals in NSW: R. W. GIllespie, merchant; A. J. Taylor, soliticitor; and David Roxburgh, soliticitor - was signed to establish "The Buckland Hospital". Thomas Buckland purchased "Euchora" in 1934, and the Buckland Hospital Trust was established by a trust deed, registered on 20 August 1934. The deed states, inter-alia: The trust
Buckland Convalescent Home
19176698
for the loan and the repayment of interest on the outstanding loan. Deed of Trust<br> On 14 October 1896, the day before Florence got married, Charles A. V. Conybeare placed those "various properties" including the "Tregullow Offices" (known together as "the estate") in trust—which properties were still subject to a mortgage—to Henry Grant Madan Conybeare (Charles's brother and JP) and merchant banker Isaac Seligman. As a result, Henry Conybeare and Isaac Seligman became the legal owners and trustees of the estate. This construction enabled Charles Conybeare to confer financial benefits to Florence Conybeare, so that when parts of the estate
Florence Annie Conybeare
11259720
on 27 July 1986. In the years following, many DOGIT communities were established—mostly in the Cape York Peninsula, Torres Strait Islands and Carpentaria regions. The "Local Government (Community Government Areas) Act 2004" extended to community councils many of the provisions and benefits of the "Local Government Act 1993" normally enjoyed by shire councils. The following is a list of DOGIT communities in Queensland. Deed of Grant in Trust A Deed of Grant in Trust (or DOGIT) is the name for a system of community-level land trust established in Queensland to administer former reserves and missions. They came about through the
Deed of Grant in Trust
16504159
proprietary right that binds third parties is said to arise on conclusion of a contract. It must simply be the contract's intention to make property available to secure repayment. The Law of Property Act 1925 section 85 say that a mortgage requires a deed (under LPMPA 1989 section 1, a document that is signed, witnessed and states it is a deed). Under the Land Registration Act 2002 sections 23 and 27, a notice of a mortgage must be filed with HM Land Registry for the mortgage to be effective. Then, Law of Property Act 1925, section 87 says mortgages confer
Mortgages in English law
12121218
suffered from the almost complete stoppage of dividends from the invaded areas". Scottish Mortgage celebrated its centenary year in 2009. As at 30 September 2018 the Trust had total net assets of approximately £7.6 billion. Investments continue to reflect the global-nature of the Trust with holdings in fast-growing economies such as China and Brazil. Scottish Mortgage Investment Trust Scottish Mortgage Investment Trust () is a publicly traded investment trust. It invests globally, looking for strong businesses with above-average returns. Scottish Mortgage is managed by Baillie Gifford & Co Limited, the Edinburgh-based investment management partnership. It is listed on the London
Scottish Mortgage Investment Trust
11752398
such. On January 8, 1830 influential members of the closely related Kulin clan of Tagore (Thakur) and Roy (Vandopādhyāya) "zumeendar" family mutually executed the "Trust Deed of Brahmo Sabha" for the first Adi Brahmo Samaj place of worship on Chitpore Road (now Rabindra Sarani), Kolkata, India with Ram Chandra Vidyabagish as first resident superintendent. In November 1830, Ram Mohan Roy left for England, leaving the Trust Deed as legacy for his successors. In addition to being a legal document, the (Banian) Trust Deed of 1830 settles some basic principles of Brahmo Samaj or, and, and, and, and, and, and, and,
Trust deed of Brahmo Sabha
11752399
The "Trust Deed of 1830" is a complex legal document in archaic legal drafting for transfer of the property at Chitpur Road to the Trustees. This section will guide you through it. Trust deed of Brahmo Sabha The modern religious philosophy of Brahmoism is based in part on the foundations of reformer Raja Ram Mohan Roy's humanitarian philosophy, as exemplified by the Trust Deed of Brahmo Sabha, known to Brahmos as the "1830 Brahmo Trust Deed". On August 20, 1828 the first assembly of the Brahmo Sabha was held at Kolkata (Calcutta), India. This Sabha was convened by religious reformer
Trust deed of Brahmo Sabha
9919565
A trust is a legal agreement where a person (the trustee) holds and manages property for the benefit of others in the agreement (the beneficiaries) as laid out in a trust deed. The trustee legally owns the properties but is obliged to act in accordance with the provisions of the deed. The word trust specifically refers to the duty or aggregate accumulation of obligation that rest upon a person described as the trustees. The responsibilities of trustees are in relation to property held by them, or under their control. The trustees will be compelled by a court in its equitable
Australian trust law
8510288
or difficult-to-liquidate property carries the lowest ratio. So, raw, undeveloped land may carry a maximum LTV of 50%...if a lender will even consider using it as collateral. Rural income producing property, such as a small shopping center, may similarly carry a low LTV. Example: Appraised land value = $1,200,000 Existing trust deed = $200,000 Equity = $1,200,000 - $200,000 = $1,000,000 LTV = 60% Maximum total Loan Amount available to borrower = 60% of $1,200,000, or $800,000. The lender may choose to place a $600,000 2nd Deed of Trust behind the $200,000 existing Deed of Trust or it may place
Private money investing
6242455
deed of trust is the primary instrument for taking a security interest in real property, while the mortgage is used in the remainder. As noted above, UCC Article 9's core insight was that the traditional distinctions were hopelessly obsolete, which was highly influential elsewhere and inspired the enactment of the "Personal Property Security Acts" throughout Canada during the 1990s. Although Ontario was the first province to enact such a law in 1990, all other Canadian provinces and territories followed the example set by Saskatchewan's PPSA enacted in 1993. The PPSAs are generally similar to UCC Article 9. However, they differ
Security interest
6242425
aside or ignored. However, if the court orders a sale pursuant to statute, the mortgagee may be expressly permitted to buy. The third remedy is to appoint a receiver. Technically the right to appoint a receiver can arise two different ways - under the terms of the mortgage instrument, and (where the mortgage instrument is executed as a deed) by statute. If the mortgagee takes possession then under the common law they owe strict duties to the mortgagor to safeguard the value of the property (although the terms of the mortgage instrument will usually limit this obligation). However, the common
Security interest
12121211
Scottish Mortgage Investment Trust Scottish Mortgage Investment Trust () is a publicly traded investment trust. It invests globally, looking for strong businesses with above-average returns. Scottish Mortgage is managed by Baillie Gifford & Co Limited, the Edinburgh-based investment management partnership. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. The origins of Scottish Mortgage lie in a credit crisis, the Panic of 1907. By 1909 the growing popularity of the motorcar, including the Model T Ford, was creating significant demand for tyres, which rubber planters in Southeast Asia were keen to exploit,
Scottish Mortgage Investment Trust
13646624
Earth Peoples Park Earth Peoples Park (1970–1994) was a parcel of swamp and forested land located in the small Canada–US border village of Norton, Vermont. The park property is now known as Black Turn Brook State Forest and is now owned by the state of Vermont. Purchase of the Norton parcel was inspired by the People's Park in Berkeley, California, with some donations for the down payment raised at the 1969 Woodstock Music & Art Festival in Bethel, NY. The Vermont parcel was purchased and managed as a non-profit trust (Earth Peoples Park Inc.), with the land deed officially recorded
Earth Peoples Park
9919475
presumes that all trusts are revocable unless the terms of the trust specifically state otherwise. Generally, the Grantor is also the one charged with funding the initial assets into the trust, either through an instrument (i.e., deed, security certificates, accounts retitled into the trust's name) or by a declaration (i.e., for tangible personal property without a formal title). From both a historical and practical perspective, trusts have generally been designed to have only one Settlor or Grantor. This is due to the complications that can arise, particularly in non-community property jurisdictions, in determining the nature of property deposited into the
United States trust law
4101207
it is an all or nothing proposition. There, the recording of the construction mortgage before the filing of a statutory notice of commencement of construction provides the mortgage with absolute priority over mechanic's liens arising out of the construction. Still other states, such as California, provide priority for a construction loan mortgage recorded before the visible commencement of construction where the lender is obligated to disburse the funds. In the State of Illinois, there is a statutory funds disbursing scheme that, if followed, provides construction loan mortgage priority. In other states, there are still other arrangements and some states, such
Mechanic's lien
18838253
Heritage Bank Plc 4. Stanbic IBTC Bank Plc 5. Infinity Trust Mortgage Bank Plc. 6. Homebase Mortgage Limited 7. FHA Homes Savings & Loans Limited 8. Trust Bond Mortgage Bank 9. Imperial Homes Mortgage Bank 10. Abbey Mortgage Bank Plc 11. Resort Savings & Loans Limited 12. Platinum Mortgage Bank Limited 13. Jubilee Life Savings & Loans Limited 14. Haggai Savings & Loans Limited 15. Refuge Home Savings & Loans Limited 16. New Prudential Building Society 17. Sun Trust Bank 18. Nigeria Police Mortgage Bank Limited 19. Mayfresh Savings & Loans Limited Refinancing Cycle Initial step is for a borrower
Nigeria Mortgage Refinance Company
7776571
however, this could result in criminal charges. When entering a trust deed a default will be placed on the debtor's credit file which will last for six years. Some people are unable to sign a trust deed because of their contract of employment states they cannot enter an insolvency solution. All protected trust deeds that fall under the Court of Session and within the territorial jurisdiction of Scotland are advertised as a public record in the "AiB Register". It is also likely that setting up a trust deed will affect your credit record. Heavy penalties can accrue for missing a
Protected trust deed
16497843
Fairclough v Swan Brewery Co Ltd Fairclough v Swan Brewery Co Ltd, is a land law case, in which the Privy Council held that restrictions on the right to redeem a mortgage are void. The equity of redemption means that borrowers are able to sell or obtain new mortgage finance promptly and without impinging on other dependent transactions. A person who borrows money that is secured against an interest in land (the mortgagor) has a right to redeem the mortgage on repayment of the principal (sum) (plus interest if required by the deed and permitted by the law, such as
Fairclough v Swan Brewery Co Ltd
13163386
scenarios but not limited to: However, a mortgagee does not have priority over the following scenarios but not limited to: According to Article 20, Chapter IV of Regulations of the People's Republic of China Governing the Registration of Ships, both the mortgagor and the mortgagee are required to submit three major documents first: As a basic statutory form of mortgage, a reference to a collateral deed containing detailed particulars should be included: Ship mortgage In a ship mortgage, a shipowner gives a lender (or mortgagee) an interest in a ship as security for a loan. Similar to other types of
Ship mortgage
7643099
recourse to the fund's other assets. The Bare Trust Deed Trust Deed is a key document. Care is required to ensure there are no adverse GST, taxation or stamp duty consequences. The legal and beneficial interests in the property must be separated, so that an entity separate from the Superannuation Fund Trustee holds the legal title, while the Superannuation Fund Trustee holds the beneficial interest. A case that deals with the limited powers of a bare trustee to deal with trust assets is Caterpillar Financial Australia Ltd v Ovens Nominees Pty Ltd [2011] FCA 677 which considered the law relating
Bare trust
7845914
McPhail v Doulton , also known as Re Baden's Deed Trusts (No 1) is a leading English trusts law case by the House of Lords on the certainty of beneficiaries. It held that so long as any given claimant can clearly be determined to be a beneficiary, or not, a trust is valid. The Lords also remanded the case to the Court of Appeal to be decided on this new legal principle as "Re Baden's Deed Trusts (No 2)". Bertram Baden executed a deed settling a non-charitable trust for the benefit of the staff of Matthew Hall & Co Ltd
McPhail v Doulton
12124125
Company, and later at the United States Mortgage and Trust Company of which he became Vice President. On April 29, 1897, he married Anna Murphy Plater in Nashville, Tennessee, a portrait of whom by the Swiss-born American artist Adolfo Müller-Ury is in the Williams College Faculty Club/Alumni Center, Williamstown. In 1905, he left US Mortgage & Trust to co-organize the Columbia Trust Company of which he became Vice President. On October 23, 1907, he was appointed by Governor Charles E. Hughes Superintendent of Banks. In November 1909, he was appointed New York State Comptroller to fill the vacancy caused by
Clark Williams
6577961
name the parties involved, e.g., grantor and grantee. The grantor is the party transferring away a property right, and the grantee is receiving a property right. In the case of a deed the grantor would typically be the property seller, and the grantee the buyer. A mortgage grantor or mortgagor is the borrower of the loan, since they are giving away certain property rights to the mortgagee, lender, or mortgage grantee. More recent wording simplifies this language with "Borrower" and "Lender." The records are kept in a centralized government office, usually at the county courthouse (in states with strong county
Title search
17650683
lands but the Cherokee were to receive a yearly rent of 4 pence. The deed format at the time provides for the redendum and the rent was apparently set at a very low amount. The sale is made in fee simple with no conditions mortgage or limit on the use or water course. The grantees shall have peaceable use of the grant with no molestation or hindrance by the Cherokee. The Cherokee will have no claims on the grant. The indenture states that the Cherokee have true and lawful attorneys being Joseph Martin and John Farror who are presumed to
Path Grant Deed
13554925
bona fide purchaser of the real estate, who properly perfected its interest, would be protected against the conveyance. Therefore, it behooves purchasers and mortgage lenders to record their deeds or mortgages, respectively, to prevent this outcome. Once an instrument affecting the title to real estate has been recorded, the law holds that everyone is deemed to know of its existence, even if they haven't searched the records in the recorder's office. This is the doctrine of "constructive notice" and it is nearly universal in the various states of the U.S. So, for example, after a deed or mortgage has been
Recording (real estate)