Posted on: 02nd Apr, 2009 03:56 pm
i was wondering if their is a way to amend a "Deed of Trust" without the beneficiary?
As the Trustor/Settlor/Grantor do i not have the right to amend the "Deed of Trust"?
As the Trustor/Settlor/Grantor do i not have the right to amend the "Deed of Trust"?
Absolutely not. What are you wanting to amend anyway?
i need to setup new parties of the trust..it is my understanding of trust law..
basically, that if i put something into a trust, i am the one who created it...so why don't i have the right to change it?
basically, that if i put something into a trust, i am the one who created it...so why don't i have the right to change it?
Hi ryun!
Welcome to forums!
Are you speaking of a living trust? A living trust can be amended. You can create a "restatement" of your trust. This is a new trust document which "restates" the original one along with the changes you want.
However, a deed of trust is a different thing altogether. It is a document where the title to real property is held by a trustee. When the loan is fully paid, the monetary claim on the title is transferred to the borrower. If the borrower defaults on the loan, the trustee has the right to foreclose the property and transfer title to the lender.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
Are you speaking of a living trust? A living trust can be amended. You can create a "restatement" of your trust. This is a new trust document which "restates" the original one along with the changes you want.
However, a deed of trust is a different thing altogether. It is a document where the title to real property is held by a trustee. When the loan is fully paid, the monetary claim on the title is transferred to the borrower. If the borrower defaults on the loan, the trustee has the right to foreclose the property and transfer title to the lender.
Feel free to ask if you have further queries.
Sussane