Simplifying Deeds of Trust and assignment of rents

[Chris White]

Hi, 

I'm not from the US and trying to get to grips with deeds of trusts for a story that I'm writing.

I'm investigating two properties which have a long history when I look on property shark.

My first question is can a property only have one deed of trust at any one time, as one of the properties I've looked at has had three deeds of trusts in the last seven years. Does this mean that the owner has paid off the first two loans and is now on a third? 

If a property has a new "deed of trust and assignment of rents", does this mean that the owner is definitely renting the property out - or does it give the owner the option to rent it out if they want to? 

Many thanks for any help  

[Chris Martin]

Answer #1: a 'property' can have multiple D-Ts in place at a time. The first D-T recorded is in first position (the 1st D-T) and subsequent recorded D-Ts are secondary. If there is a CANCEL filing (or SATISFACTION, or possibly a RELEASE filing) associated with the D-T, then the D-T is no longer in force, meaning most likely the owner paid off the debt. Regarding the second question, the 'assignment of rents' would be in place for a commercial use. The borrower most likely submitted a non-owner occupant loan application. There may also be a UCC filing associated with the loan, depending on the lender and the property.