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

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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.

What is a partial deed of release?

by Practical Law Finance. A standard form deed of release by which a lender releases some, but not all, of the mortgages and charges granted to it by a security provider under a security agreement.

What is a deed of trust in Arizona?

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.

Does Arizona use deed of trust?

A deed of trust is the most commonly used form of security document by lenders when purchasing a home in Arizona.

What type of deed is not commonly used in Arizona?

Quitclaim Deed in Arizona Quitclaim deeds are not often used when the sale of the property is involved for obvious reasons. Quitclaim deeds are much more common when there is a transfer of property from one family member to another or after a divorce.

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