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Deed of Trust in divorce

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Icon Mini Profile mbpary





Joined: 11 Feb 2009

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Post Posted: Wed Feb 11, 2009 11:01 pm    Post subject: Deed of Trust in divorce
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My daughter is in th eprocess of a divorce (Texas). She is conveying her interest in the home by a special warranty deed. Her lawyer prepared a deed of trust with her as the beneficiary and husband as the Grantor. Her attorney as trustee. There is a first lien note on the proterty. The deed is very wordy. Can you explain this in laymens terms. Thanks.
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



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Location: ALASKA
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Post Posted: Fri Feb 13, 2009 12:05 am    Post subject:
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Hi mbpary,

A deed of trust is an agreement between a lender and a borrower. It helps to transfer the interest in the borrower's land to a third party, a trustee, to secure the payments of a debt by the borrower.

But as it is a legal document, it will be better if you can ask your attorney to explain it to you.
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