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#1668347 - 02/22/12 01:05 PM Deed of Trust wording
Mike Baker Offline
100 Club

Registered: 12/05/02
Posts: 151
Loc: Tennessee
The TN Deed of Trust which is generated by Compliance One [the software we use for generating loan documents] contains the following information under section 1, Conveyance:

"The instrument constituting the source of the Borrower's interest in the foregoing described property was recorded at Book __, Page __, under Instrument No. __ in the Register's Office of ___ County, Tennessee."

Other deeds of trust as prepared by our closing attorneys do NOT include the above paragraph...

However, without fail, all of our deeds of trust include an "Exhibit A" which includes the legal description of the property and information about the conveyance. And included in
Section 1, Conveyance, immediately after "...the following described property" is the wording:

See Exhibit "A" which is attached to this Deed of Trust and made a part of this Deed of Trust as if fully set forth therein.

We have been told that the paragraph referenced above must always be completed.

I maintain that if the information is included in Exhibit A, we do NOT have to complete the blanks in Section 1. To do so would be redundant and also increases the risk for a discrepancy due to a typo, etc.

Your thoughts? Thank you for your input.

"If you have to, only be redundant if you have to."
_________________________
"When you believe He's all you need,that will be your defining moment." [from "Defining Moment" Newsong, Sheltering Tree CD]

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#1673276 - 03/05/12 02:31 PM Re: Deed of Trust wording [Re: Mike Baker]
Mike Baker Offline
100 Club

Registered: 12/05/02
Posts: 151
Loc: Tennessee
Just thought I would touch base on this matter again...we now have an "exception" placed by our loan department for a DOT that does not have the Compliance One blanks filled in, but does include the infomration in Exhibit A, which is part of the DOT.

How many times do we have to include this information in order to have a perfected lien? [I suppose as many times as a court of law would say so...but isn't the one time in this case enough?] Is tbere truly the need to go to the time, trouble, and expense to re-record again?

Thank you again for your time and input.

"Repetition for the sake of repetition is repetitive, not to mention redundant, which I just mentioned, not to be repetitive, nor redundant.

"When life seems to make sense, enjoy the moment. When life does not seem to make sense, try to find the humor; doing so may not change the situation, but it just might alleviate some of the frustration."


Edited by Mike Baker (03/05/12 02:33 PM)
_________________________
"When you believe He's all you need,that will be your defining moment." [from "Defining Moment" Newsong, Sheltering Tree CD]

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#1673496 - 03/05/12 06:17 PM Re: Deed of Trust wording [Re: Mike Baker]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 51214
Loc: Galveston, TX
Call your legal counsel and get it settled.
_________________________
The opinions expressed are my own, take them or leave them.

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