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Release - Satisfaction - Cancellation Deed of Trust - Individual Lender or Holder - West Virginia

Release - Satisfaction - Cancellation Deed of Trust - Individual Lender or Holder - West Virginia 2025

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The document is a 'Release of Deed of Trust' which certifies that a specific Deed of Trust has been fully released and satisfied for a property in West Virginia. It includes details such as the parties involved, the original deed information, and acknowledgment by a notary public. The release confirms that the real estate is no longer encumbered by the Deed of Trust.

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What does a trustee on a deed of trust do?

A deed of trust has a borrower, lender and trustee. The trustee is a neutral third party that holds the title to a property until the loan is completely paid off by the borrower. In most cases, the trustee is an escrow company or title company.

What does a trustee need on a deed of trust in West Virginia?

ing to West Virginia Code 38-1-4, every notice of sale by a Trustee under a trust deed must contain the following information: (a) The time and place of sale; (b) The names of the parties to the deed under which it will be made; (c) The date of the deed of trust; (d) The office and book in which the deed of

What is a deed of trust satisfaction?

A deed of trust is satisfied when the debt it secures is paid or when the obligation it secures is fulfilled. A deed of trust is no longer a lien on the property if the debt or obligation it secures has been satisfied but it will remain a cloud on title until removed from the chain of title.

What happens when the debt secured with a deed of trust is satisfied?

Upon payment of all sums secured by this Security Instrument, Lender will request Trustee to reconvey the Property and will surrender this Security Instrument and all Notes evidencing the debt secured by this Security Instrument to Trustee.

What is included in the deed of trust?

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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What is the disadvantage of a trust deed?

Disadvantages of a Trust Deed For borrowers, if financial circumstances change, default on repayment can result in property foreclosure. Late payments should be avoided to prevent escalation and property loss.

Who can be a trustee on a deed of trust in WV?

No person not a resident of this state may be named or act, in person or by agent or attorney, as the trustee of a security trust, either individually or as one of several trustees, the other or others of which are residents of this state.

How do you release a deed of trust?

Processing a Release of Deed of Trust Execution: The lender or authorized agent signs the release, and it is notarized as required. Recording: The release is submitted to the county recorders office for official recording, making it part of the public record.

Release - Satisfaction - Cancellation Deed of Trust - Individual Lender or Holder - West Virginia 2025

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What does a trustee on a deed of trust do?

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What is a deed of trust satisfaction?

What happens when the debt secured with a deed of trust is satisfied?

What is included in the deed of trust?

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What is the disadvantage of a trust deed?

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