Security Instruments (Deed of Trust vs. Mortgage)

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R.E.P. by Practice (Answer)
V 1

Alabama Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Alabama is a mortgage state.


R.E.P. by Practice (Answer)
V 1

Alaska Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Deed of trust, rarely mortgage. No present statutory requirements for trustee on deed of trust. Attorney for trustee may conduct sale.


R.E.P. by Practice (Answer)
V 1

Arizona Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Deeds of trusts are used typically. Mortgages are rarely used, but can be used.


R.E.P. by Practice (Answer)
V 1

Arkansas Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Both Deeds of Trust and Mortgages are used. A trustee can be: A licensed Arkansas Attorney. A Bank or S & L authorized to do business in Arkansas. A duly licensed Trust Company. An agency or authority of the State of Arkansas. See ACA § 118-50-102. An underwriter or title agent cannot be a trustee unless they qualify with the above.


R.E.P. by Practice (Answer)
V 1

California Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Deeds of Trust. The Trustee can be a natural person or legal entity. There is no residency requirement.


R.E.P. by Practice (Answer)
V 1

Colorado Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

The customary instrument is the deed of trust. Ordinarily, the public trustee is listed as the trustee on the deed of trust.


R.E.P. by Practice (Answer)
V 1

Connecticut Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgage only. Deeds of trust are not used.


R.E.P. by Practice (Answer)
11/08/2024
V 3

Delaware Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

The Customary form is a Mortgage

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

 No.


R.E.P. by Practice (Answer)
V 1

District of Columbia Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Deeds of trust are used almost exclusively. A mortgage would be enforceable but would necessitate court action to enforce.

There are no restrictions in the District of Columbia as to who may act as a trustee. Trustees do not need to be DC residents and can be an entity or a person.


R.E.P. by Practice (Answer)
V 1

Florida Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Florida is a lien state and mortgages are the security instrument used to encumber real property.


R.E.P. by Practice (Answer)
V 1

Georgia Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgages are used, but they are rare. A security deed (deed to secure debt) is the customary security instrument in Georgia.

Georgia does not use a Deed of Trust.

Two witnesses are required to witness the signature of the grantor for a security deed to be recorded. One of the witnesses may be the notary taking the acknowledgment.

This law applies whether the documents are executed in Georgia or another state. See O.C.G.A. Sections 44-2-14 and 44-2-21.

Statewide recording fees are enumerating in O.C.G.A. section 15-6-77 to real or personal property:

  • A flat fee of $25.00 will be charged to record most documents pertaining to Real Estate, including each deed, security deed, affidavit, release, notice, certificate, cancellation, assignment, notice filing for Uniform Commercial Code related real estate, assignment of a security deed, a lien on real estate and personal property, hospital lien, notice of lis pendens, written information on utilities, writ of fieri facias and cancellation of a lien.
  • For any instrument that includes a request for cancellation, satisfaction, release, or assignment of more than one instrument the $25.00 filing fee shall be paid for each such instrument which is to be cancelled, satisfied, released or assigned.
  • The fee for filing of a tax lien by a state or local government agent is $5.00 for the first page, $2.00 for each additional page, and $2.00 for each cross reference.
  • The fee for filing a financing statement, amendment to financing statement, continuation statement, termination statement, release of collateral, or other filing pursuant to Article 9 of Title 11 is $25.00.
  • The fee for recording a plat or map is $10.00 per page.

Superior Court Clerks do not generally rush record documents filed for record in this State.

The standard release form is the Statutory Cancellation of Mortgage and Quitclaim Deed of Release in Georgia forms

GA Cancellation of Security Deed (Statutory Form)
GA Quit-Claim Deed for Release of Deed To Secure Debt


R.E.P. by Practice (Answer)
V 1

Hawaii Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Hawaii is a lien theory state and uses mortgages instead of deeds of trust. The question regarding the trustee on the deed of trust, therefore, is not applicable.


R.E.P. by Practice (Answer)
V 1

Idaho Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

A deed of trust may be used on property that is located within an incorporated city or village, on property not exceeding 80 acres, regardless of its location, provided that the property is not principally used for the agricultural production of crops, livestock, diary or aquatic goods or on property not exceeding 40 acres regardless of its location or its use. See Idaho Stat. 45-1502(5).

The trustee of a trust deed may be any member of the Idaho state bar, any bank or savings and loan association authorized to do business under the laws of Idaho or the United States, an authorized Idaho authorized trust institution or any corporation authorized to conduct a trust business under the laws of the United States or a licensed title insurance agent or title insurance company authorized to transact business under the laws of the state of Idaho. See Idaho Stat. 45-1504.

Any interest in real property which is capable of being transferred may be mortgaged. See Idaho Stat. 45-1001.


R.E.P. by Practice (Answer)
V 1

Illinois Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Illinois allows the use of both a deed of trust and a mortgage. Illinois is a lien-theory state. Mortgages are considered to be liens against the property and the vast majority of the liens in Illinois are mortgages. Both instruments are subject to the same judicial foreclosures rules under 735 ILCS 5/Art XV.


R.E.P. by Practice (Answer)
V 1

Indiana Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

The customary and permissible form of security interest in Indiana is a Mortgage. Pursuant to Indiana Code 32-29-1-5, a mortgage of land that is:


(1) Worded in substance as "A.B. mortgages and warrants to C.D." (here describe the premises) "to secure the repayment of" (here recite the sum for which the mortgage is granted, or the notes or other evidences of debt, or a description of the debt sought to be secured, and the date of the repayment); and


(2) dated and signed, sealed, and acknowledged by the grantor; A good and sufficient mortgage to the grantee and the grantee's heirs, assigns, executors, and administrators, with warranty from the grantor (as defined in IC 32-17-1-1) and the grantor's legal representatives of perfect title in the grantor and against all previous encumbrances. However, if in the mortgage form the words "and warrant" are omitted, the mortgage is good but without warranty.


R.E.P. by Practice (Answer)
V 1

Iowa Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Mortgage.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Not applicable.


R.E.P. by Practice (Answer)
V 1

Kansas Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgage.


R.E.P. by Practice (Answer)
V 1

Kentucky Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgage.


R.E.P. by Practice (Answer)
V 1

Louisiana Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Where property is community, both spouses must sign the mortgage, and the signature of one spouse may not be effective, even as to that one spouse’s share.

In Louisiana, the mortgage is the instrument used to secure real property loans; common law deeds of trust are not permitted. A "conventional" mortgage is established by contract, a "legal" mortgage is established by operation of law, and a "judicial" mortgage is established by law to secure a judgment. A "general" mortgage burdens all present and future property of the mortgagor, while a "special" mortgage burdens only certain specified property of the mortgagor. Conventional mortgages are special mortgages. Judicial and legal mortgages are usually general mortgages.

Only a written contract may establish a conventional mortgage. The writing may be either an authentic act or an act under private signature, although it is customary for mortgages to be in authentic form for purposes of quick foreclosure. The conventional mortgage must state precisely the description of the immovable property over which it is granted, state the amount of the obligation or the maximum amount of the obligations that may be outstanding at any time and from time to time that the mortgage secures, and be signed by all those who have the power to alienate the property. The mortgagee need not sign the contract of mortgage.

When a creditor lends money to a Louisiana debtor, usually a promissory note is signed as evidence of the debt, although this is not absolutely necessary. The promissory note indicates the amount owed and the interest rate to be charged over a certain period of time.


R.E.P. by Practice (Answer)
V 1

Maine Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

The customary form of security instrument is a mortgage.


R.E.P. by Practice (Answer)
V 1

Maryland Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Deeds of trust and mortgages are both acceptable under Maryland law, however, deeds of trust are used in almost every residential transaction. Under Maryland Real Property §7-105 and Maryland Rule 14-214(b)(2), corporate trustees may not exercise the power of sale. An individual (i.e., a “natural person”) appointed as trustee in a deed of trust or as a substitute trustee shall conduct the sale of property subject to a deed of trust. The individual need not be a Maryland resident. Stewart Title does not authorize any of its officers, employees or associates to be named as a trustee under any security instrument.


R.E.P. by Practice (Answer)
V 1

Massachusetts Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgages are used in Massachusetts.


R.E.P. by Practice (Answer)
V 1

Michigan Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgages only. Deeds of Trust are not recognized.


R.E.P. by Practice (Answer)
V 1

Minnesota Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

A mortgage is used.


R.E.P. by Practice (Answer)
V 1

Mississippi Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Deed of Trust. Any natural person or legal entity can be the Trustee. No residency requirement.


R.E.P. by Practice (Answer)
V 1

Missouri Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Deed of Trust only. The trustee must be a MO resident individual over the age of 18 or a MO corporation. If a non-resident individual or foreign corporation is named as trustee, a MO resident individual or MO corporation must be added as co-trustee.

An underwriter or a title agent could qualify as a trustee if it is a MO corporation. By custom, an attorney who is a resident of Missouri is usually named trustee. The lender/beneficiary selects the trustee.


R.E.P. by Practice (Answer)
V 1

Montana Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Small Tract Financing Act allows a deed of trust to be used on tracts of 40 acres or less. Mortgages can also be used. The trustee of a deed of trust can be a member of the bar, bank, trust company, savings & loan, or a title insurer or agent. It is customary to use a title company.


R.E.P. by Practice (Answer)
V 1

Nebraska Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Mortgage, Trust Deed

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Nebraska Licensed Attorney, Nebraska Real Estate Broker, Bank, Building and Loan, Savings and Loan or Credit Union doing business under U.S. or Nebraska Law, Nebraska Trust Company, Title Insurer authorized to do business in Nebraska (Insurers commonly named as Trustee).


R.E.P. by Practice (Answer)
V 1

Nevada Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

The Deed of Trust is the customary security instrument in Nevada; a Mortgage is permissible.

As of October 1, 2011, AB284 requires a trustee of a Nevada Deed of Trust to be a title insurer or Title Agent authorized to do business in Nevada, an attorney licensed to practice law in Nevada, or a person licensed pursuant to Nevada Revised Statutes dealing with Trust Companies.


R.E.P. by Practice (Answer)
V 1

New Hampshire Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

The customary form of security instrument is a mortgage.


R.E.P. by Practice (Answer)
V 1

New Jersey Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgages are customarily used. Deeds of trust are not customarily used in NJ.


R.E.P. by Practice (Answer)
V 1

New Mexico Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgage has been historically customary but use of Deed of Trust is expanding. Deed of Trust is permissible under state statute on all loan transactions except for farm, dairy and ranch properties and minerals (including oil and gas) that are not severed from the real estate. See Section 48-10-3H NMSA 1978.


R.E.P. by Practice (Answer)
V 1

New York Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgage only.


R.E.P. by Practice (Answer)
V 1

North Carolina Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

A deed of trust is the customary form of security instrument. Execution and acknowledgement is required. Power of Sale contained in the NC form deed of trust allows streamlined quasi-judicial foreclosure process.

Mortgages are allowed but will require judicial foreclosure.

Any person or entity (other than minor) may be the trustee. Failure to name a trustee is corrected by statute that allows substitution of trustee to correct missing trustee. NCGS § 45-10.

It is customary to list the closing attorney as trustee. Most banks in NC have designated entities to serve as trustee.


R.E.P. by Practice (Answer)
V 1

North Dakota Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

(A) Mortgage.
(B) Deeds of trust are not used.


R.E.P. by Practice (Answer)
V 1

Ohio Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Ohio is a Mortgage Deed jurisdiction.


R.E.P. by Practice (Answer)
V 1

Oklahoma Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

The customary security instrument utilized in Oklahoma is the Mortgage. Every Deed of Trust on real property, intended as a security instrument, shall be subject to all statutory provisions and laws relating to mortgages. There is no provision in the Oklahoma statutes which address who may be designated as trustee under a Deed of Trust. Oklahoma statutes provide for a Mortgage with a Power of Sale. The statutes provide for non-judicial foreclosure of a Mortgage with a Power of Sale. However, this mortgage alternative is not commonly used.
46 O.S. § 40 et seq.

No suit, action or proceeding to foreclose or otherwise enforce the remedies in any mortgage, contract for deed or deed of trust shall be had or maintained after the expiration of 7 years from the date of the last maturing obligation secured by such mortgage, contract for deed or deed of trust becomes due as set out therein. 46 O.S. § 301(B).


R.E.P. by Practice (Answer)
V 1

Oregon Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

The customary security instrument is a Trust Deed. A Trust Deed is deemed a mortgage by statute except to the extent statutes affecting Trust Deeds provide otherwise (ORS 86.715). Mortgages are also permissible security instruments.

An attorney who is an active member of the Oregon State Bar;

A financial institution or trust company that is authorized to do business under the laws of Oregon or the United States;

A title insurance company authorized to insure title to real property in this state, its subsidiaries, affiliates, insurance producers or branches;

The United States or any agency thereof, and/or

Licensed escrow agents.

Yes and it is customary.


R.E.P. by Practice (Answer)
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Pennsylvania Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Mortgage

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?


R.E.P. by Practice (Answer)
V 1

Rhode Island Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Rhode Island General Laws, Section 34-13-1, provides that mortgages and UCC-1 forms are eligible for recording in the Land Evidence Records. Statutory Forms are to be found in Rhode Island General Laws, Section 34-11-12.

If a lender or individual executed a Deed of Trust for Rhode Island Land, would the recorder record it in the land records? There are thirty-nine separate recorders of deeds. They would probably record the document and mis-index or mis-interpret it. It is not eligible for recording under Rhode Island General Laws, Section 34-13-1.

How would it be enforced? Deeds of Trust are not used in Rhode Island. If it did not contain the necessary statutory power of sale delineated in Rhode Island General Laws, Section 34-11-22, it could not be foreclosed by non-judicial foreclosure. If the Rhode Island Superior Court found it to constitute an actual mortgage, it could possibly be foreclosed by judicial foreclosure.


R.E.P. by Practice (Answer)
V 1

South Carolina Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgage. Deeds of Trust are not permitted.


R.E.P. by Practice (Answer)
V 1

South Dakota Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

The customary and permissible form of security instrument is the Mortgage. Deeds of Trust are not used in South Dakota.


R.E.P. by Practice (Answer)
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Tennessee Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Tennessee is a deed of trust state. However, a mortgage is enforceable.

The trustee must be a resident of Tennessee or a corporation domiciled in Tennessee. There is a reciprocal agreement in which a trustee can serve in Tennessee if the trustee’s home state allows a Tennessee trustee to serve.

The title agent can be a trustee, and an underwriter domiciled in Tennessee could be a trustee, but it is not customary.


R.E.P. by Practice (Answer)
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Texas Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Deed of Trust

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)?

Customarily the trustee is an individual who does not have to be a resident of Texas. Initial trustees are frequently replaced with substitute trustees who conduct foreclosures.

Can an underwriter or title agent be designated as the trustee? Yes
And, if so, is it customary? No


R.E.P. by Practice (Answer)
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Utah Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

A deed of trust is the customary form of security instrument. Mortgages are permitted but are uncommon.

A trustee in a deed of trust must be either an active member of the Utah State Bar who maintains a place within the state where the trustor or other interested parties may meet with the trustee, a bank, savings and loan association, savings bank, industrial bank, credit union, an insurance company authorized to do business and actually doing business in Utah, a corporation authorized to conduct a trust business and actually conducting a trust business in Utah or a title insurance company or agency that holds a certificate of authority or license Under Title 31A of the Utah Insurance Code that has a bona fide office in the state and is actually doing business in the state. See Utah Code Ann. § 57-1-21.


R.E.P. by Practice (Answer)
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Vermont Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Mortgages are the security instruments used in Vermont, not Deeds of Trust.


R.E.P. by Practice (Answer)
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Virginia Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Deeds of Trust, although Mortgages are acceptable. Trustees must be residents of the state; if corporation, must be principal place of business.


R.E.P. by Practice (Answer)
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Washington Security Instruments (Deed of Trust vs Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Deed of Trust (common) and Mortgages (rare). The trustee of a deed of trust must be 1) any domestic corporation of which at least one officer is a Washington resident, or 2) any title insurance company authorized to insure title to real property in Washington, or its agents, or 3) any attorney who is an active member of the Washington state bar association at the time he/she is named trustee, or 4) any professional corporation, LLC, LLP, incorporated under the applicable Washington statutes, all of whose shareholders, members, or partners, respectively are either licensed attorneys or entities, provided all of the owners of those entities are licensed attorneys, or any domestic corporation wholly owned by any of these entities, or 5) any agency or instrumentality of the U.S. Government, or 6) any national bank, savings bank, or savings and loan associated chartered under the laws of the United States. It is customary that a title agent (not underwriter) be listed as a trustee on a deed of trust.


R.E.P. by Practice (Answer)
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West Virginia Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Deeds of Trust, although Mortgages are acceptable. Trustees must be residents of the state; if corporation, must be principal place of business.


R.E.P. by Practice (Answer)
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Wisconsin Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

Wisconsin uses a mortgage as its customary form of security instrument.


R.E.P. by Practice (Answer)
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Wyoming Security Instruments (Deed of Trust vs. Mortgage)

R.E.P. Topic by State (Question)

Please describe the customary and permissible form(s) of security instruments used in your state.

Who can be listed as the trustee on the Deed of Trust (e.g., residency and/or natural person requirements, etc.)? Can an underwriter or title agent be designated as the trustee, and, if so, is it customary?

A mortgage is the standard security instrument used. Deeds of trust are permitted but are rarely used because mortgages may contain a power of sale and foreclosures of deeds of trust, like mortgages, are subject to redemption rights.