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Deed of Trust

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Deed of Trust

File Type: Word      Price: $19.99        

                                                           

Summary: A deed of trust is similar to a mortgage contract except that a deed of trust involves a third party called a trustee, usually a title insurance company, who acts on behalf of the lender. When you sign a deed of trust, you are in effect giving the trustee title (ownership) of the property, but holding on to the right to use and live in it. The lender or trustee holds the original deed of trust until you repay the loan on your home. This Deed of Trust can be used in all applicable states.  

 

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DEED OF TRUST

THIS DEED OF TRUST is made the [    ] day of [         ] in the year two Thousand, _______________ nine hundred and ninety [ (2____ )]

BETWEEN:[                                                      ] ("the Settlor") of the one part 

AND:  

[ Trustee Company ], a company incorporated under the laws of ________________________with its registered office at [ Trustee Registered Address ] ("the Trustee" which expression shall where the context so admits include the Trustees or Trustee for the time being of these Trusts) of the other part.

WHEREAS:

(A) There has been transferred or delivered to the Trustee or otherwise placed under its control the property specified in the Second Schedule hereto and from time to time further monies investments or other property may be paid or transferred to the Trustee by way of additions to the Trust Fund.

(B) It is intended that this Deed shall be irrevocable.

NOW THIS DEED OF TRUST IRREVOCABLY WITNESSES as follows:

1. Definitions

IN this Deed where the context so admits:

(a) THE NAME of the TRUST FUND shall be "[                             ]"

(b) THE TYPE of Trust shall be [ Discretionary / Beneficial / Charitable / Spendthrift /

Protective etc ]

(c) "THE TRUST FUND" shall mean; 

(i) the property specified in the Second Schedule hereto and;

(ii) all money, investments or other property paid or transferred by any person or

persons to or so to be under the control of and (in either case) accepted by the

Trustee as additions at any time during the Trust Period and;

(iii) all accumulations (if any) of income directed to be held as an accretion to

capital and;

(iv) the money, investments and property from time to time representing the said

money investments property additions and accumulations;

(d) "THE TRUST PERIOD" shall mean the period from the date hereof ending on the

earlier of;

(i) the day on which shall expire the period of 100 years from the date of execution

of this deed; or

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