Texas Deed in Trust

What is a Texas Deed in Trust? To a real estate investor, this document is extremely important. It is considered both a legal and equitable title to your house. Many homeowners may mistakenly think a deed in trust a contract that they sign to borrow money to secure a mortgage loan. The truth is a deed in trust is more than a contract. It is a document, which states you are securing a mortgage loan payment. It also dictates if a borrower defaults on the terms of the mortgage loan, your real estate can be used for payment of the loan.

If you are securing a mortgage, read over your Texas Deed in Trust before signing any paperwork. The deed outlines the steps that will be taken if you do not have the funds to secure a mortgage loan and satisfy the mortgage loan agreement. Will you have to go through the foreclosure process? Your deed must provide a lender with solutions if you do default on the mortgage loan.

How do I tell if my Texas Deed in Trust is Valid?

You do not have to have your Texas Deed in Trust recorded by a county clerk for it to be valid. The deed must; however, completed by an attorney and acknowledged by a grantor. Since this is a legally binding document, it is important your deed name the borrower or trustor, the lender or beneficiary, and the trustee. Recording a deed alerts others that you are making your transaction public, but you are not required to record your deed in trust.

There is no standard form for what is a deed. Deeds, in themselves, are confusing because they are not always called a deed. They may be called an “assignment.” Another point of confusion is how do borrowers to tell if their Texas Deed in Trust is valid? If you are planning to buy a house, have your attorney look over the deed before signing the document. Keep in mind that a not all deed in trust documents are the same.

Do not get tripped up on the Texas Deed in Trust’s Wording

Wording can change from deed to deed and that wording can be extremely important. The wording can limit liability in certain instances. You may need more than a basic company deed document to adequately describe the property and keep your property description clear from the wording in your document. Unclear wording could make your deed unenforceable and not a valid document; you should have an attorney look over the deed. It is best to make sure your document is valid before you enter into any mortgage loan agreement.

Are you still struggling to understand the Texas Deed in Trust process or how it relates to your mortgage loan? We can help. We can provide you with solutions, if you have defaulted on your mortgage loan and you do not understand the conditions outlined in the assignment. It is best to call us as soon as possible so we can help you save your Texas home from foreclosure.  Give us a call today at 512-271-5044.

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