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Under Tennessee law when a foreclosure sale of property secured by a deed of trust fails to satisfy the indebtedness, the creditor may recover a deficiency judgment.
Also provided is the state-specific short-form mortgage or deed of trust to be used with each mortgage loan that contains loan-specific information and incorporates by reference the provisions of the recorded master.
When the relinquished property is encumbered by a deed of trust, the client can unexpectedly recognize gain, because Regs.
A Deed of Trust can detail each owner's percentage share in the property, or detail a fixed sum to be paid to at least one of the co-owners if the property was sold, while the other owners share the remainder.
A construction loan deed of trust should state it is being used for construction purposes, otherwise it may be found to be a land loan.
Review the note and deed of trust to confirm that the lender has nor included right of offset against accounts of the borrower which may be held in the course of other business with the lender.
The regular and special homeowners' assessments, a deed of trust on the common area and the homeowners' dues secured the loan.
For instance, a closing attorney's decision as to whether to entitle the security instrument a mortgage, deed of trust or deed to secure debt would be determined by the state in which the security instrument is to be filed.
The Tennessee deed of trust, assignment of rents and leases, security agreement and fixture filing is filed by the company with Renasant Bank.
Under the plan, the city and S & Y Capital Group, a subsidiary of the underwriter of the Trade and Commerce Center bonds, would jointly pay $1 million to a partnership called the Antelope Valley Project, holder of a promissory note secured by a deed of trust on the site.