Deed of Trust

Question: purchasing condo reviewed the estimated closing statement. $30.00 chrg 4 Grant Deed & $100 4 Trust Deed Why?

I am purchasing a condo I just reviewed the estimated closing statement. There is a $30.00 charge for a Record Grant Deed and also a $100.00 charge for Record Trust Deed. Why do I need both? Or do I ?

Answer: The deed is the evidence that you are the owner and the recording fee is what the county recorder charges to "make it public record".

The Trust Deed is more complicated, is it the instrument (the legal device) that attachs the loan you have to the property since the condo is security for the loan. If you pay off the loan then the Trust Deed goes away. The grant deed never goes away until you sell it.

If you put another loan on the property, like a second, or a line of credit, then you have to pay for another Trust Deed.

How Trustee Sales Work (Part 2)