A Deed of Trust is signed when you purchase a property with the assistance of a mortgage loan. This deed is the security behind a loan, which is signed and stored in the public records. It contains three different parties, the Trustor (the borrower), the Trustee, and the Beneficiary (the lender).
What is the Deed of Trust Used For?
A Deed of Trust identifies an original loan amount, a description of the property being used as security for the mortgage, the people involved in the sale, the maturity date of the loan, the inception date of the loan, late fee information, legal procedures, acceleration clauses, riders, alienation clauses, and the provisions of the mortgage. You may need a copy of the Deed of Trust if you have to deal with legal matters or if you need to prove ownership over a loan or mortgage.
Where Can You Find a Deed of Trust in Public Records?
When you need to find the Deed of Trust for a property it is best to contact the land records office. The correct office to call is the lands record office located closest to the property, as it is most likely to have the records on file. You may wish to locate the Deed of Trust for a foreclosure, for example, and will need to locate the Deed of Trust in the area where the property is located.
Are There Other Places to Find the Deed of Trust?
You may be able to find the Deed of Trust in Public Records by talking to the County Clerk or Registrar. The location of the Deed of Trust varies slightly between each state and community. To obtain copies of files held by the County Clerk you can usually mail or visit the office with a request. If the item required has a fee in the state or community you will need to send or take payment.
What is Needed to Obtain the Deed of Trust?
In order to obtain the Deed of Trust, you should have a written request from the mortgage company or lender, one of their agents or attorneys, or present a release from a title insurance company to a Public Trustee. In the case of a foreclosure a lien may be placed on the property. In order for this lien to be removed, the terms of the Deed of Trust must be met and then a request for a Release of Deed of Trust must be recorded.
