DEED OF TRUST
What Is a Deed of Trust?
A deed of trust is a financial document which evidences an underlying debt — that’s why it is commonly drafted along with a promissory note.
The trustee named in the document holds the “Power of Sale” over the property; this means that if the debtor ceases making payments and defaults on the note, the trustee has the right to take steps to foreclose upon and sell your property to recover the balance of the debt.
On the other hand, once the note has been paid, the trustee is also responsible for giving or “reconveying” the title back to the debtor.
The Document People Can Help You Prepare a Deed of Trust
A trust deed must be notarized and submitted to the County Recorder for the community where the property is located.
We can assist you with preparing the deed, the notarization, and the recording process, all for a flat fee.
Please contact us for pricing and additional information.
Preparing and filing a Deed of Trust (i.e. a voluntary lien on a real estate property – often used in conjunction with a promissory note) can be done efficiently and at a reasonable cost at any of The Document People locations.
Here is a list of what you’ll get included in our fee:
- Preparation of Deed of Trust
- Pulling of the current deed (if not provided by the customer)
- Filing in Person (Los Angeles County)
- Filing fee
Voluntary vs. Involuntary Liens
A voluntary lien (like a mortgage), is one that a person has over the property of another as security for the payment of a debt.
Deed of Trust are also voluntary liens, which require the notarized signature of the debtor. Remember, liens are attached to the property and not to a person. So, if for example the debtor tries to sell the property, the creditor will be paid off from the escrow funds.
Just because you have a claim against a person, it doesn’t mean you can file a lien. You’ll need a judgment from the court (plus a writ of execution).