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A deed of trust must be notarized and recorded in the recording office of the property’s city or town.[1] Each recording office has its own formatting requirements.
A Rhode Island deed of trust conveys a homeowner’s legal title to a third-party trustee as security for a loan obtained from a lender. The trustee holds the title until the grantor’s obligation to the lender is settled. Defaulting on the agreement can subject the property to a non-judicial foreclosure, a process where the property is auctioned by the trustee.
A Rhode Island deed of trust conveys a homeowner’s legal title to a third-party trustee as security for a loan obtained from a lender. The trustee holds the title until the grantor’s obligation to the lender is settled. Defaulting on the agreement can subject the property to a non-judicial foreclosure, a process where the property is auctioned by the trustee.
A deed of trust must be notarized and recorded in the recording office of the property’s city or town.[1] Each recording office has its own formatting requirements.