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An assignment of deed of trust under California law. This Standard Document can be used to assign and transfer the beneficial interest under a California deed of trust from one lender to another lender.
Question: In Arizona a deed of trust is used rather than a mortgage for a loan secured by a home or other real property. Other states, such as our home state of Massachusetts, use mortgages rather than deeds of trust.
An assignment of trust deed is a document that lenders use when they sell loans secured by trust deeds. While they can freely sell the promissory notes between themselves, the trust deeds that give them the right to foreclose have to be assigned with a legal document.
A deed of trust is an agreement between a home buyer and a lender at the closing of a property. It states that the home buyer will repay the loan and that the mortgage lender will hold the legal title to the property until the loan is fully paid.
A deed of trust is a type of secured real-estate transaction that some states use instead of mortgages. See State Property Statutes. A deed of trust involves three parties: a lender, a borrower, and a trustee. The lender gives the borrower money. In exchange, the borrower gives the lender one or more promissory notes.
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A trust deed is always used together with a promissory note that sets out the amount and terms of the loan. The property owner signs the note, which is a written promise to repay the borrowed money.
A secured promissory note is an obligation to pay that is secured by some type of property. This means that if the payor fails to pay, the payee can seize the designated property to obtain reimbursement of the loan.
A legal document (which may be a deed or other instrument) that creates a trust. The trust document appoints the trustees and states the terms of the trust, including who the beneficiaries are and the trust property that will be subject to the trust.
A Declaration of Trust does not override a Will. The Declaration of Trust will set out your interest in the property but the Will will set out what will happen to your interest in the property after you have passed away.
1. If the final maturity date or the last date fixed for payment of the debt or performance of the obligation is ascertainable from the county recorder's records, ten years after that date.

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