Deed of Trust Form
What is a Deed of Trust?
Why Do You Need a Deed of Trust?
A deed of trust essentially sets the rules for the borrower and lender during the repayment of the loan and keeps the legal title of the property away from both parties. The lender can never access the title to the property, even in the case that borrower defaults (If the borrower defaults, the lender will have the opportunity to buy the property). The borrower can only access the title if their debt is paid in full, and this is when the title will be given to them by the trustee.
The reasons why you might need a deed of trust are different depending on whether you are the borrower or lender.
For the Borrower:
If you are a borrower, you need a deed of trust if you have received a loan that is not a mortgage. The deed of trust will keep the title of the property from the lender and bind them to specific repayment rules as dictated by the deed.
The terms in a personal promissory note (aka the loan) often lack detail and can cause confusion. For example, if the lender demands the property be covered by a certain type of insurance but the borrower disagrees, who should pay? A deed of trust not only clarifies these terms, but if there is a dispute, the lender will not have access to the title and cannot take any unexpected legal action or sell the property.
For the Lender:
First and foremost, the deed of trust ensures the repayment of the loan. By using a deed of trust, you are able to clearly define the repayment process and the consequences of defaulting. By keeping the legal title of the property from the borrower until the loan is paid in full, you will never have to worry about the borrower selling the property without your knowledge.
The deed of trust also acts to protect the value of the property (which is your asset until the loan is repaid) by putting the responsibility of upkeep and maintenance on the borrower.
Creating a Deed of Trust at online-application.org
Hiring a lawyer to create a deed of trust form costs thousands of dollars. But thanks to online-application.org’s state-of-the-art form-builder, you can create and complete a deed of trust in just minutes.
Just follow these simple steps:
- Choose your state and click “Create Form” at the top of this page
- Add the personal details of the parties involved (borrower, lender, and trustee)
- Enter the details of the loan
- Generate your deed of trust form and print
Creating a deed of trust form at online-application.org is the easiest and fastest way to protect yourself as a borrower or lender when real estate is involved.
When you’ve printed your deed of trust form, you will need the signatures of the borrower, lender, and trustee. All signatures must be signed in the presence of a notary public, and the notary must also sign and add their seal. At that point, the legal title to the property will be given to the trustee and the terms of the loan repayment will be legally binding.
There’s no need to make these tasks more stressful or painful than they already are. With the one-click form filling service at online-application.org, you can avoid the bureaucracy and manage all of the deceased’s affairs simply, quickly, and with just one document.