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OpenDocumentAn Arkansas deed of trust conveys real property to a third party trustee to hold the title until a borrowing party repays in full a loan provided by a lender. This instrument is a legally binding agreement between a trustee, the borrower (“trustor” or “grantor”), and a lender (“beneficiary”). This document is advantageous to the lender when compared to a mortgage because if the trustor fails to repay the loan, the trustee may foreclose on the property non-judicially (without a court order), thus saving time and expense.
- Statutes: Chapter 50 – Statutory Foreclosures, §§ 18-49-101 to 18-49-106,
- Formatting: § 14-15-402(b)(1), § 16-47-107
- Signing Requirements (§ 18-12-104 & § 18-12-201): Notary Public and Two (2) Disinterested Witnesses
- Where to record (§ 14-15-404(a)(1)): Circuit Court
- Recording fees (§ 21-6-306(a)): $15 for the first page, $5 for each additional page
Related Forms (1)
Arkansas Promissory Note – Details the terms by which a borrower will repay a loan.
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