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#2259286 - 09/05/21 10:20 PM Maturity Date On Deed Of Trust
Mike Baker Offline
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Mike Baker
Joined: Dec 2002
Posts: 192
Tennessee
This was also posted in a state forum, and I understand that state laws may possible affect the answer to this, but nonetheless I was just wondering in general.

Is it permissible to specify a later maturity date on the deed of trust than stated on the note for which the deed of trust is collateral?
For example, a 12 month note is issued for a construction loan. Just to be prudent, in the event that there are delays in completion, could the deed of trust have, for example, a 24 month maturity date? At the end of the 12 months, if more time is needed, could you then do a modification/extension without having to record the modification/extension document as long as the stated new maturity date does not exceed the date specified in the deed of trust originally? Taking this a bit further, could your deed of trust maturity date be, for example, 20 years later, just to provide for a case in which the builder might elect to retain the property for rental purposes? Thank you for your time and assistance.

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#2259287 - 09/06/21 01:08 PM Re: Maturity Date On Deed Of Trust Mike Baker
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 76,929
Galveston, TX
Not possibly effect, but totally a State law issue.
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