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Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 42327
Experience:  Texas Attorney for 30 years dealing in real estate
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I own 2 properties with my ex-wife. One is in Texas and 1

Customer Question

I own 2 properties with my ex-wife. One is in Texas and 1 is in Arizona. The note, for 144,000, is on the property in Texas which we are selling. I agreed to only have her pay half her debt, 72,000, and put the other 72,000 on the property in Arizona. I'll need a new note and be able to secure it with the property in Az. What do I need to do?
Submitted: 2 years ago.
Category: Real Estate Law
Customer: replied 2 years ago.
Can I use the forms on legal websites for the note? do i need a deed of trust?
Expert:  Ray replied 2 years ago.
Hi and welcome to JA. I am Ray and will be the expert helping you tonight.
You need a promissory note and deed of trust.You can do this yourself using on line forms.
Here is the promissory note.
Deed of Trust forms..
These forms can be previewed for free, they come with self help instructions here.You would have buyer ex sign the promissory note and deed of trust.You keep them until paid off.
I appreciate the chance to help you tonight.Please let me know if you have more follow up.Thanks again.
Customer: replied 2 years ago.
do I need to record the note and deed in the county of the property?
Expert:  Ray replied 2 years ago.
You do not have to record the promissory note.The Deed and Deed of Trust are recorded in the county deed records in Arizona where the property is located.They are returned to you after recording for your records. Thanks for the follow up.Good luck with the sale.