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Roger
Roger, Lawyer
Category: Real Estate Law
Satisfied Customers: 31013
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I'm in california and wish to borrow some money from my mother

Customer Question

I'm in california and wish to borrow some money from my mother to defend a lawsuit. I'd like to give her security in my house. Should I use a deed of trust, or is there a simpler way?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Roger replied 1 year ago.
Hi - my name is ***** ***** I'll be glad to assist. Yes, you'll have to sign a promissory note (which is the promise to repay the money), and if you are going to pledge your real property as collateral, you would have to give her a deed of trust to evidence the lien against the real property.
Expert:  Roger replied 1 year ago.
These are fairly simple documents and something that you can get a local lawyer to generate or even find samples online.
Customer: replied 1 year ago.
Who can be the trustee? Where can I find a sample deed of trust online?
Customer: replied 1 year ago.
This will be the third deed of trust - does the trustee need to be the same at the other 2?
Expert:  Roger replied 1 year ago.
Any third party can be a trustee.....a friend, a lawyer, banker, etc. No, the trustee doesn't have to be the same.
Expert:  Roger replied 1 year ago.
Here's a link to sample forms: http://saclaw.org/wp-content/uploads/sbs-deed-of-trust-and-promissory-note.pdf
Customer: replied 1 year ago.
Does the deed of trust need to list the amount of the loan on it, or can it just refer to the note, keeping the amount confidential?
Expert:  Roger replied 1 year ago.
It needs to contain the amount of the loan on the deed of trust.

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