Archive for April, 2011
Trust Deed What Is
April 24th, 2011
Question: Trust deeds in Scotland???????
How do these trust deeds work? And will it affect my wages from my 2 part time jobs and will they take away all our belongings and our baby's belongings? It is my husbands debts and he is thinking about doing this for bills he has now and for bills from a long time ago and they are just impossible to pay off as he works on a boat and does not get regular pay and it is a different amount every week and when it is bad weather they don't go fishing at all and if they don't catch anything they don't get paid so the direct debits don't get paid so they charge us and then the bloody bank charges us so his next pay gets eaten up by charges and we just end up in a right state again sorry rambling on now.
Debts are over £30000 not sure by how much could even be over £40000
we don't own our own house, car etc
I think this is our only option anyone with any advice or has been through this before please tell me what happened to you
cheers
Answer: Ask at the CAB
Trust Deed Investing vs. Purchasing Real Estate
Posted in Deed of Trust Basics | 
Tags: debt, deed, estate, real, trust, trust deed what is | 
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Deed Of Trust Vesting
April 23rd, 2011
Question: i need to know what this means?
Tenant accepts this Lease subject and subordinate to any mortgage, Deed of Trust or other lien presently existing or hereafter arising upon the Leased Premises, or upon the Building and to any renewals, refinancing and extensions thereof, but Tenant agrees that any such mortgagee shall have the right at any time to subordinate such mortgage, Deed of Trust or other lien to this Lease on such terms and subject to such conditions as such mortgagee may deem appropriate in its discretion. Landlord is hereby irrevocably vested with full power and authority to subordinate this Lease to any mortgage, Deed of Trust or other lien now existing or hereafter placed upon the Leased Premises of the Building.
Answer: It means that the landlord can sell the property (including the lease that you have on it) to someone else even if he or tehy have a mortgage on it.
Selling the property doesn't nullify the lease, ie the new landlord can't dishonour the existing agreement
Killing off old trusts and companies before end of financial year - # 4
Posted in Deed of Trust Basics |
Tags: deed of trust vesting, deed of trust vesting california |
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Deed Of Trust Foreclosure
April 23rd, 2011
Question: What does this mean under tenant rights?
When property is sold in foreclosure
state law provides that a tenant in possession of a rental housing unit at the time a property is sold in foreclosure shall be given 60 days’ written notice to quit before the tenant may be removed from the property. *****However, if your lease was signed before the Deed of Trust or mortgage was recorded, your lease will not be set aside by the foreclosure.***** (what does this part mean?)
Answer: WRG's answer is correct, but I wanted to add that this law is now irrelevant. A federal law was signed last May that makes it so that leases always survive foreclosure and if you are on a month-to-month lease or one of a few exceptions apply, you have to be given 90 days notice before eviction can begin.
Show Me The Loan Seminar July 10-11 2010 Tape 1 pt 1 of 5