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I have a mortgage document (Deed of Trust etc) already, but…

Customer Question
I have a mortgage...

I have a mortgage document (Deed of Trust etc) already, but wondering if I need an attorney from Maryland to be the trustee or can my attorney from PA do it?

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

Maryland

Lawyer's Assistant: Has anything been filed or reported?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

We flip homes and have private mortgages that we do all the time but are trying to cut expenses since the mortgage is the same, but the lender varies

Submitted: 7 months ago.Category: Legal
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Answered in 5 minutes by:
12/13/2017
Lawyer: Barrister, Attorney replied 7 months ago
Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 42,556
Experience: 17 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

.

There is nothing that says that you have to have someone in the same state as the trustee for a DOT. Although it may be more convenient to have someone local, if you can cut your costs and have one attorney serve in that role for all your transactions, that is permissible. Or any individual or company for that matter.

.

There are typically no restrictions governing who may or may not serve as a trustee in a deed of trust; the only requirement is that the designee is not affiliated with either the borrower or the lender. So this could present a potential problem if this is your personal attorney or someone you use on a regular basis..

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An individual, a group or an entity--businesses included--may all serve as a trustee. It is common to appoint an entity in the property lending industry, such as the title company that handled the title check for the property purchase.

.

.

thanks

Barrister

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Lawyer: Barrister, Attorney replied 7 months ago

Hello again,

.

I just wanted to touch base with you and check in.

.

Did you have any further questions I can help with?

.

.

Thanks much

Barrister

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