Legal Question in Real Estate Law in California
Does California use Mortgages and a note or just Deeds of Trust and a note?
May a real estate transaction in California use a mortgage note secured by a mortgage instrument for a purchase money mortgage, or must the transaction use a promissory note secured by a Deed of Trust?
Asked on 5/29/01, 11:25 pm
1 Answer from Attorneys
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Re: Does California use Mortgages and a note or just Deeds of Trust and a note?
Mortgages and mortgages with power of sale are recognized in California and can be used, but are quite infrequently used because most parties (lenders, attorneys, escrow companies) are accustomed to deeds of trust and find that they have advantages.
Answered on 6/26/01, 2:20 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
