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Assignment of Deed of Trust by Individual Mortgage Holder - Utah

Assignment of Deed of Trust by Individual Mortgage Holder - Utah 2025

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The document is an Assignment of Deed of Trust, where the Assignor transfers all interests in a specified Deed of Trust to the Assignee for value received. It includes details about the parties involved, the original deed, and the property secured by a Promissory Note. The assignment is formalized with signatures and notarization.

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What is the Assignment of a mortgage deed of trust?

What Is Assignment in a Deed of Trust? In real estate law, assignment is simply the transfer of a deed of trust from one party to another. This usually happens when the beneficiary of a trust deed sells their loan to another lender.

How do I transfer my property into a trust in Utah?

You transfer your home to the trust by signing a deed that names the trust as the new owner of the property. The deed then needs to be recorded with the local county recorders office. Once recorded, the trust is now on title as the legal owner of the property.

Why do lenders prefer a deed of trust over a mortgage?

Foreclosure details: When your lender forecloses with a deed of trust, the process will usually take less time and money to complete. However, foreclosure with a mortgage can be a lengthy process since you must go through the courts. Therefore, it can eat up a lot of time and money.

Does Utah use a deed of trust or a mortgage?

Utah is known as a Trust Deed and Promissory Note state. There are references to a foreclosure being allowed under the law, typically in a Contract for Deed transaction but this is certainly not the standard.

What are the disadvantages of putting property in trust?

Transferring property typically requires the grantor to file a quitclaim deed. A grantor files a quitclaim deed with their county clerk, which transfers the property to the trust.