In a deed of trust, the borrower (trustor) transfers the Property, in trust, toan independent third party (trustee) who holds conditionaltitle on behalf of the lender or note holder (beneficiary) for the purpose of exercising the following powers: (1) to reconvey the deed of trust once t...
Joint tenancy (CasesWeinberger, Alan MTheappraisalinstitute
title to real property is passed to two or more people by granting a concurrent estate. Granting concurrent estates can be done in a will or by property deed. In Georgia, tenancies are presumed to be tenancies in common, unless specific language granting a joint tenancy with right of survivor...
A deed of trust usually transfers title to the property to a trustee for a trust or title company. The company holds the real property as security against the borrower’s loan. When the borrower repays the loan in full, the title transfers back to them. A trustee typically only has the ...
Because a TOD deed form becomes effective upondeath, non-living owners cannot use a TOD deed. If the property is owned by a business, trust, or any other owner other than a living person, the TOD deed cannot be used. Some states prohibit the use of apower of attorneyto create a TOD ...
The Loan is evidenced by a promissory note ("Note") executed by Borrower, dated the date of this Deed of Trust, payable to the order of Beneficiary in the principal amount of the Loan. The maturity date of the Loan is December 1, 2012. B. The loan documents include this Deed of ...
Property owners often use covenant deeds to re-title property when actual control of the property will not be changed. For example, a covenant deed might transfer property to aliving trustoran LLCthat the transferor owns or controls. Because the transferor still has an economic interest in the ...
Joint Tenancy vs. Tenants in Common: What's the Difference? Top Get helpful tips and info from our newsletter! Learn more Legal help articles Business Name Generator Legal form templates LegalZoom vs ZenBusiness What is an LLC? How to Start an LLC?
“By contrast, if a married individual owns property outright in his [or] her own name, in an individual revocable living trust, or in a similar manner in which the entire value of the property is included in their estate at the time of death, then t...
When a person dies in Michigan, most of their cash, bank accounts, retirement accounts and real and personal property become part of the estate's probate property unless they are trust assets. Probate property includes all assets that become part of the estate in probate. All assets, including...