Trust Deed Escrows
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Trust Deed Escrows
When you fund a loan or purchase a promissory note, this transaction should be done through escrow. Escrow is a specific process in which a title of transfer and a funds transfer take place via a neutral third party during a real estate transaction. The company providing escrow acts as the middle person in the transaction, and the escrow agent is the one who will process the transaction in accordance to the initial escrow instructions that were agreed on by the lender and the borrower.
The instructions provided by escrow determine the conditions that need to be met or waived before the escrow officer can take action and disburse your money to either the note holder or the borrower. Some of these conditions include, but are not limited to:
- Delinquent taxes are paid.
- Certain liens are removed.
- Choosing title insurance coverage.
- Completion and handing over of the deed of trust or promissory note, or the completion and handing over of the endorsement or assignment of the promissory note.
Related posts:
- What Secures A Trust Deed Investment ?
- Trust Deeds Notes Information
- Loan Documents | Different Note Types
- Typical Borrowers
- Loan Documents I
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