Deed of Trust : New version?

[plbarber]

What is the name of your state? Colorado

I purchased my home from my parents in the early 1990s. An additional provision, which was added to the original Deed of Trust, must now be removed moving forward. How complicated is this, can we simply fill out a new Deed of Trust and register it at the county courthouse? Rather than a traditional mortgage, the loan is being repaid on a promissory note.

[FlyingRon]

Who is the beneficiary of the current deed of trust. If it is your parents, they can just just reconvey it to you and then file the new deed of trust. Don't know if there is any short cut.

[seniorjudge]

Originally Posted by plbarber

What is the name of your state? Colorado

I purchased my home from my parents in the early 1990s. An additional provision, which was added to the original Deed of Trust, must now be removed moving forward. How complicated is this, can we simply fill out a new Deed of Trust and register it at the county courthouse? Rather than a traditional mortgage, the loan is being repaid on a promissory note.

Rather than a traditional mortgage, the loan is being repaid on a promissory note.

What do you mean? Traditional mortgages are paid with a promissory note.

Anyway, you all need legal help on this; sounds like you might be fixing to really screw things up.

Basically, you will need the public trustee to release the current deed of trust and then slap a new one on there.

Of course, it may be possible to just do a modification.

Is it in Torrens?

See a lawyer.