Release Of Deed In Trusts
What is Involved in the Release of Deed in Trust?
Trust deed investing varies from state to state, so whenever you are looking into the release of deed in trust, it is important that you make sure that you are following the laws specific to your state, and your region within that state. That being said, there are some procedures that can be considered common among the majority of states when it comes to the release of deed in trust.
The release of deed in trust itself refers to the process where the deed of trust itself is executed and signed by the trust deed investor, which has been paid in full. This signed and executed document is then sent to the Public Trustee of the region or county of the property being used as collateral for the loan. The Public Trusty is responsible for performing a comparison of the documents submitted. When deemed satisfactory, the release of deed in trust form is signed and executed. This process is recorded with the county clerk as well as the recorder.
The original promissory note from the trust deed will be marked as either having been paid or cancelled so that it may be signed by the agent or attorney of the trust deed investor. When a partial and/or full release of deed in trust occurs, a live note is created and is presented along with the original promissory note. The original record of the deed of trust (or a copy if the original cannot be located or is illegible) must then be submitted to the county clerk and recorder.
The actual release of deed in trust process must be started with the appropriate release forms. These can be obtained for free at many different locations. Different forms are required depending on if a release of deed in trust is being requested with the original promissory note, or if the note is not available or is illegible.
There may be a small fee - approximately $20 - in some counties in order to execute and record the forms for a release of deed in trust. Documents can usually either be brought in person to the county clerk’s office, or can be mailed, but faxes and digital copies (over the internet, for example, via email) are typically not deemed valid.
For a detailed process for your state, contact your county clerk’s office or a professional in trust deed investing.