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Start Deed of Trust StateMortgage allowedDeed of trust allowedSouth DakotaYYTennesseeYTexasYUtahY47 more rows
While both mortgages and deeds of trust are permitted, deeds of trust are most commonly used. (Utah Code § 57-1-21.) A mortgage secures a lien on real property.
In a Judicial/Mortgage foreclosure, the Title is held by the lender. Utah is known as a Trust Deed and Promissory Note state.
The Trustee is the person or financial institution (such as a bank or a Trust company) who holds the legal title to the Trust estate. There may be one or more trustees.
To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.

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Lawyers often use hourly fee schedules, and the price associated with creating a living trust is generally at least $1,000. Again, more complex estates may pay even more than that. In particular, make sure you're using an estate planning lawyer that has a specialty in trusts.
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.
Property is often transferred into a trust as part of inheritance tax planning however the trust needs to meet certain conditions and to be set up correctly by a solicitor. By putting a property into trust rather than making an outright gift, you are able to control how the property is used after it is given away.
Utah Deed of Trust and Promissory Note Information A deed of trust (DOT), is a document that conveys title to real property to a trustee as security for a loan until the Trustor/borrower repays the Beneficiary/lender according to terms defined in an attached promissory note.
There are a number of advantages to trust deeds. First, you don't have to deal with your creditors and they will no longer be able to contact you to try to recover their money. The debt also becomes more manageable as you make only one monthly payment, which is affordable and frozen.

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