Unfortunately, the amount secured by the
deed of trust on the property exceeded $5.4 million.
(57) All other unpaid assessments, after the six or nine months, remain in a junior position to the lender's mortgage or to a first
deed of trust. (58) Regardless of which statute a state enacts, the goal is still to "strik[e] an equitable balance between the need to enforce collection of unpaid assessments and the need to protect the priority of the security interests of lenders." (59)
Fountainhead provided the $2,240,3330 1st
Deed of Trust loan and the $1,756,000 second
Deed of Trust loan, enabling the borrower to acquire the property and building with attractive, long-term fixed interest rates at approximately 90% loan-to-cost financing.
The promissory note included a collateral guaranty in the form of a
deed of trust on real property owned by Wolper Construction; however, no lien was recorded, and Wolper testified at trial that he did not believe any
deed of trust was ever created.
Yet, still other states have enacted laws that presume the intention of the lender not to allow a merger to occur, allowing lenders to void a deed in lieu of foreclosure in certain circumstances and foreclose the
deed of trust.
Holding: Defendant obtained a lien on an apartment complex after plaintiff recorded its
deed of trust on the property but before plaintiff's
deed of trust expired under G.S.
The note was to mature in one year and was secured by a
deed of trust on the land.
Seventy years ago, a remarkable collection of some 80,000 books and photographs was conferred into the care of the University of London by
deed of trust. Only two pages long, the document acknowledged the collection's 'worldwide reputation in its special field of culture and research' and committed the university to maintain and preserve the gift in perpetuity while housing and keeping it 'adequately equipped and staffed as an independent unit.' The beneficiary also agreed to be advised by a committee of management consisting of 'persons of goodwill whose interests lie in the direction of the fields of study and research' to which the library is dedicated.
Should a lender wish to take a mortgage on all or some of the applicant's oil and gas leases in Alaska, a
deed of trust will be necessary.
The
deed of trust and note are separated, converted into a stock, and more.
Alternatively, if you choose to lend the money rather than give it, then make sure you have a
deed of trust drawn up by a solicitor to state the money you have contributed and how you will get it back if your child sells the property in future.
deed of trust - a written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note