Partial Release of Property From Deed of Trust for Corporation - Arizona: Fill out & sign online

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What is a deed of trust in AZ?

Updated May 31, 2022. The Arizona trust deed is used when there is a security interest on the property. A lender holding a mortgage on the property uses this type of deed to indicate the interest that they have in the property in the event that the person borrowing the money fails to pay the mortgage as directed.

Who holds title in a deed of trust in Arizona?

Under a Deed of Trust, there are generally three parties the borrower, the lender and the Trustee, who holds title to the lien for the benefit of the lender and whose sole function is to initiate and complete the foreclosure process at the request of the lender.

How do I hold my property title in Arizona?

Ways to Hold Title to Real Estate in Arizona COMMUNITY PROPERTY. COMMUNITY PROPERTY WITH RIGHT OF SURVIVORSHIP. JOINT TENANCY WITH RIGHT OF SURVIVORSHIP. TENANCY IN COMMON. TRUST (WITH A TRUSTEE) SOLE AND SEPARATE PROPERTY. CORPORATION. GENERAL PARTNERSHIP.

What is an Arizona deed of trust?

Updated May 31, 2022. The Arizona trust deed is used when there is a security interest on the property. A lender holding a mortgage on the property uses this type of deed to indicate the interest that they have in the property in the event that the person borrowing the money fails to pay the mortgage as directed.

Who holds legal title to the security property described in the deed of trust?

The Trustee in a Deed of Trust is the party who holds legal title to the property during the life of the loan. Trustees will most often have one of two jobs. If the property is sold before the loan is paid off, the Trustee will use the proceeds from the sale to pay the lender any outstanding portion of the loan.

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