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Which type of deed is used by a trustee?

A trustee deedsometimes called a deed of trust or a trust deedis a legal document created when someone purchases real estate in a trust deed state, such as California (check your local laws to see what is required in your state). A trust deed is used in place of a mortgage.

How long is a deed of trust good for in Colorado?

Such instrument shall clearly describe the mortgage or deed of trust, shall state the date to which the lien has been extended, and shall be recorded before the expiration of the fifteen-year period described in section 38-39-201(1) in the office of the county clerk and recorder of the county wherein the property is

How do I put my house in a trust in Colorado?

How to Create a Living Trust in Colorado Decide which type of trust you want to make. If you are single, a single trust is probably the best option. Take inventory of your property. Pick a trustee. Create the trust document. Sign the trust in front of a notary public. Fund the trust.

Do Colorado trusts need to be registered?

Colorado has a statute which says the trustee of a trust having its principal place of administration in Colorado shall, within thirty days after his or her acceptance of the trust, register the trust in the court of this state at the principal place of administration.

How do I file a trust in Colorado?

How Do I Make a Living Trust in Colorado? Choose whether to make an individual or shared trust. Decide what property to include in the trust. Choose a successor trustee. Decide who will be the trusts beneficiariesthat is, who will get the trust property. Create the trust document.

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Does Colorado have deeds of trust?

In Colorado, real estate purchases in which the purchaser borrows money to pay for property are typically secured with a Deed of Trust. Rather than a mortgage in which the parties are the borrower and the lender, a Deed of Trust is a three-party agreement among a borrower, a lender, and the county Public Trustee.

What is a trustee deed in Colorado?

A Deed of Trust is a third-party instrument used to create voluntary liens in real estate. The parties to a Deed of Trust are the Grantor, who is the property owner, the Beneficiary, who is the lender, and the Public Trustee, who holds certain powers of foreclosure and release.

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

Generally, the trustee must be an attorney, title insurance company, trust company, bank, savings and loan, credit union, or other company specifically authorized by law to serve as a trustee. Other states have no limitations. Colorado has a public trustee designated in each county for this purpose.

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