LegalFix

Real property

mortgage deed

A mortgage deed is the document that creates a mortgage and grants an ownership interest (lien) to the lender (often a bank) until the loan is paid in full. A mortgage deed usually must include:

• the name of the mortgagor (the borrower);

• words of grant or conveyance in which the mortgagor (borrower) grants or conveys real property to the lender or mortgagee;

• the name of the mortgagee;

• a property description sufficient to identify the mortgaged real property;

• the mortgagor’s signature; and

• an acknowledgment in which a notary public signs and officially stamps the mortgage deed to verify the identity of the person signing the deed and for the mortgagor to declare or acknowledge to the notary that the mortgagor signed the deed willingly and voluntarily and was not coerced into signing it.

And in some states a deed must be delivered to be effective. Delivery of a deed generally includes:

• the grantor’s (mortgagor or borrower) intent to convey title to the property to the grantee (mortgagee or lender)—not just the physical handing over of the deed; and

• the grantee’s (mortgagee or lender) acceptance of the deed as an immediate conveyance of the title to the real property.

Laws vary from state to state and the legal requirements for a valid mortgage deed may be located in a state's court opinions (common law or case law) or in its statutes.



State Statutes for the State of Texas

CHAPTER 13 - EFFECTS OF RECORDING

(a) A conveyance of real property or an interest in real property or a mortgage or deed of trust is

CHAPTER 83 - CERTAIN UNAUTHORIZED PRACTICE OF LAW

indirectly, any compensation for all or any part of the preparation of a legal instrument affecting title to real property, including a deed, deed of trust, note, mortgage, and transfer or release of lien.

CHAPTER 284 - SPECIAL PROVISIONS RELATING TO HOSPITAL DISTRICT BONDS

(2) a mortgage or deed of trust on real property on which a district hospital facility is or will be

CHAPTER 221 - WETLAND MITIGATION

(1) mortgage or deed of trust on real property that is related to the mitigation bank; or

CHAPTER 3873 - KAUFMAN COUNTY PARKS IMPROVEMENT DISTRICT

(b) Bonds may be additionally secured by a mortgage or deed of trust on real property relating to the district and by chattel mortgages, liens, or security interests on personal property appurtenant to that real property. The board may authorize the execution of trust indentures, mortgages, deeds of trust, or other forms

CHAPTER 1065 - MOTLEY COUNTY HOSPITAL DISTRICT

(1) a mortgage or deed of trust on real property;

CHAPTER 1096 - SOUTH LIMESTONE HOSPITAL DISTRICT

(c) Revenue bonds may be additionally secured by a mortgage or deed of trust lien on real property of

CHAPTER 1014 - COLLINGSWORTH COUNTY HOSPITAL DISTRICT

(1) a mortgage or deed of trust on real property;

Federal Statutes