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Is a trust deed a good idea?

A trust deed could help you docHub financial stability. This means, it could help pay off all your unsecured debt. Your trustee will decide an affordable monthly payment amount. This will exclude your disposable income and your living expenditure.

Are trust deeds legal in Illinois?

In Illinois, land trusts have been around, in some form or another since 1868. From the first case recognizing the validity of these trust instruments in Kerr v. Kotz in 1920, Illinois Courts have upheld the entity as a legal manner of holding real estate.

Is a trust deed a legal document?

A Declaration of Trust, also known as a Deed of Trust, is a legally-binding document recording the financial arrangements between joint property owners, and/or anyone else with a financial interest in the property.

Do trustees have legal ownership?

The trustees are the legal owners of the assets held in a trust. Their role is to: deal with the assets according to the settlors wishes, as set out in the trust deed or their will.

Does Colorado have deeds of trust?

In Colorado, the Public Trustee processes releases of Deeds of Trust upon payoff or re-finance of a property loan. Recording the release of the corresponding Deed of Trustee lien signifies that the lien is satisfied.

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