Glossary entry (derived from question below)
English term or phrase:
trustee's deed
Polish translation:
akt powierniczy/hipoteczny
Added to glossary by
Edyta Sawin
Jan 2, 2008 16:27
16 yrs ago
2 viewers *
English term
trustee's deed
English to Polish
Law/Patents
Law: Contract(s)
You are hereby authorized and directed to execute and deliver your TRUSTEE’S DEED in your capacity as trustee under your Trust No. _______________ as follows:
Date of Deed : _______________________
Names of Grantees: ___________________________
Address of Grantees: ____________________________________________________________
After this conveyance will other property remain in this trust? _____ Yes ______No
( If No, all signers must provide future mailing address, below.)
DIRECTION MUST BE ACCOMPANIED BY REMITTANCE FOR ALL FEES INCLUDING FEE FOR THIS DEED.
LEGAL DESCRIPTION:
Date of Deed : _______________________
Names of Grantees: ___________________________
Address of Grantees: ____________________________________________________________
After this conveyance will other property remain in this trust? _____ Yes ______No
( If No, all signers must provide future mailing address, below.)
DIRECTION MUST BE ACCOMPANIED BY REMITTANCE FOR ALL FEES INCLUDING FEE FOR THIS DEED.
LEGAL DESCRIPTION:
Proposed translations
(Polish)
| 4 | akt powierniczy/hipoteczny |
Edyta Sawin
|
Change log
Jan 8, 2008 13:40: Edyta Sawin changed "Edited KOG entry" from "<a href="/profile/99805">gabik's</a> old entry - "trustee's deed"" to ""akt powierniczy/hipoteczny""
Proposed translations
35 mins
Edyta Sawin
United States
United States
Native in Polish
Works in field
United States
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Native in: Polish 
Works in: Polish to English, English to Polish, Polish, and 1 more.
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akt powierniczy/hipoteczny
Deed of trust
In some jurisdictions, a deed of trust is used as an equivalent to a mortgage. A trust deed isn’t like the other types of deeds; it’s not used to transfer property directly. It is commonly used in some states (California, for example) to transfer title to land to a “trustee,” usually a trust or title company, which holds the title as security ("in escrow") for a loan. When the loan is paid off, title is transferred to the borrower by recording a release of the obligation and the trustee's contingent ownership is extinguished. Otherwise (upon default), the trustee will liquidate the property (with a new deed) and offset the lender's loss with the proceeds.
Deed of Trust
An instrument used in many states in lieu of a Mortgage. Legal title to the property is Vested in one or more Trustees to secure the repayment of the loan.
Example: Abel borrows $50,000 on his property in Texas from the Good Money Savings Association. He gives a deed of trust that is held in the name of I.M. Honest, a trustee. If Abel Defaults it will not be difficult for Good Money to gain possession.
In some jurisdictions, a deed of trust is used as an equivalent to a mortgage. A trust deed isn’t like the other types of deeds; it’s not used to transfer property directly. It is commonly used in some states (California, for example) to transfer title to land to a “trustee,” usually a trust or title company, which holds the title as security ("in escrow") for a loan. When the loan is paid off, title is transferred to the borrower by recording a release of the obligation and the trustee's contingent ownership is extinguished. Otherwise (upon default), the trustee will liquidate the property (with a new deed) and offset the lender's loss with the proceeds.
Deed of Trust
An instrument used in many states in lieu of a Mortgage. Legal title to the property is Vested in one or more Trustees to secure the repayment of the loan.
Example: Abel borrows $50,000 on his property in Texas from the Good Money Savings Association. He gives a deed of trust that is held in the name of I.M. Honest, a trustee. If Abel Defaults it will not be difficult for Good Money to gain possession.
4 KudoZ points awarded for this answer.
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