Assumption Agreement of Deed of Trust and Release of Original Mortgagors - Arizona 2025

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Arizona is a Mortgage state and Deed of Trust state.
Under Arizona law, breach of contract claims must be brought within six years of default. This time limitation applies to Deed of Trust default actions. Therefore, Deed of Trust lenders must act promptly if they want to enforce their rights.
Like a mortgage, a trust deed makes a piece of real property security (collateral) for a loan. If the loan is not repaid on time, the lender can foreclose on and sell the property and use the proceeds to pay off the loan. A trust deed is not used to transfer property to a living trust (use a Grant Deed for that).
An Assumption Deed is a document used to transfer ownership of real estate property when the new owner assumes an existing mortgage on the property being transferred. Additionally, the new owner agrees to comply with all provisions of the existing mortgage, including making payments to the mortgage company.
Are you familiar with the deed of trust? In Arizona, this is the primary financial security document thats used when purchasing a home.

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Are you familiar with the deed of trust? In Arizona, this is the primary financial security document thats used when purchasing a home. While the deed of trust is similar to the mortgage, there are some notable differences to be aware of. If youre not sure how to differentiate the two, dont worry.
What Is the Process for Removal Of a Deed Of Trust In Arizona? A deed of trust may be removed by the trustee voluntarily transferring the beneficial title interest in the property back to the borrower or by a court order that it be removed from the chain of title.

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