Deed of trust represents an official document that contains the agreement between a lender and a borrower. It is done to transfer an interest in the borrower’s land to a neutral third party, to secure the payment of a debt by the borrower. It is used in some countries as a substitute for a mortgage but it differs from a mortgage, it consists of three people while in the case of a lease, two parties are concerned.
This arrangement between these three parties which include the lender, borrower and a trustee represents an agreement between these three parties wherein the lender in lieu for a loan places legal title in the hand of the trustee, who keeps it to benefit the lender. The trustee is also known as a beneficiary. The borrower retains the equitable title and possession of the property.
Reformation of the Deed of Trust means to make changes in the document of Deed of Trust; the reformation is not a remedy to correct all the minor errors, such as typing errors, rather it is granted where there is a mutual mistake that on the whole affects the parties rights and obligations. This reformation requires the court’s order upon petition of one of the parties to the document. The reformation will be ordered in case of an unintentional mistake or misunderstanding.
Tips To Write A Letter Of The Complaint To Reform Of Deed Of Trust.
- You should sound formal while writing the letter.
- The reason for the reform should be written.
- You should know in which cases the reformation is possible.
- Give the reason for the reformation of the deed.
Template
Use our free letter for the Complaint To Reform a the Deed of Trust to help you get started.
From,
__________
__________
__________
__________
Date: _____ (Date on Which Letter is Written)
To,
__________
__________
__________
__________
Subject: Reformation in the Deed of Trust.
Dear _____(Sir or Madam),
The deed trust of concerning ________ (Borrower), ________(Lender) and ______(Trustee) contains a mistake, the name of the property written in the deed is mistakenly written as, _________________(the mistake) whereas it should be_______________(the correction).
The same should be changed for fulfilling the loan formalities. I am attaching the original papers of the property to the letter. Kindly make the necessary changes in the address as I won’t be able to complete the loan formalities without it.
I request you to consider my problem as soon as possible as I am in immediate need of this loan I am sure your good self will consider my issue.
Thank you.
Yours truly,
Name and signature.
Sample Letter
From,
MR.Roger
133-4 Fluten,
New York, USA.
March 10, 2017
DD/MM/YYYY
To,
DIEZT, Judge
25 Bedford st,
New York, USA.
Subject: Reformation of Deed OF Trust.
Dear Mr Mathews,
I am writing to you regarding the mistake in my deed of trust, The deed trust of concerning MR. Roger (Borrower), MR. John(Lender) and MR. Sam(Trustee) Contains a mistake, the name of the property written in the deed is mistakenly written as, 11 Fulton St, New York, NY 10038 whereas it should be, 11 Fulton St, New York, NY 10030.
The name should be changed for fulfilling the loan formalities I am attaching the original papers of the property to the letter. Kindly make the necessary changes in the address as I won’t be able to complete the loan formalities without it.
I request you to consider my problem as soon as possible as I am in immediate need of this loan I am sure your good self will consider my issue.
Yours sincerely,
Mr Roger
Email Format
The following is the Email Format to be followed for a Complaint To Reform a the Deed of Trust.
To: name@email.com
From: name@email.com
SUBJECT: To Reform a Deed Of Trust.
Dear Mr./Ms/Mrs.______(Name of the recipient) I am writing to you regarding the mistake in my deed of trust, The deed trust of concerning MR. Roger (Borrower), MR. John(Lender) and MR. Sam(Trustee) Contains a mistake, the name of the property written in the deed is mistakenly written as, 11 Fulton St, New York, NY 10038 whereas it should be, 11 Fulton St, New York, NY 10030.
The name should be changed for fulfilling the loan formalities I am attaching the original papers of the property to the letter. Kindly make the necessary changes in the address as I won’t be able to complete the loan formalities without it.
I request you to consider my problem as soon as possible as I am in immediate need of this loan I am sure your good self will consider my problem.
Sincerely,
(Name of the sender)