Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago on . Most recent reply

User Stats

60
Posts
11
Votes
Mike V.
  • Investor
  • Arnold, MD
11
Votes |
60
Posts

Deed's of Trust & Promissory Notes

Mike V.
  • Investor
  • Arnold, MD
Posted

Hello everyone,

In the past 3 months, I started doing small loans with a couple of people and I wante to put a lean on their home when they went to sell it. I got my Deed of Trust and Promissory Note but I've realized they are just way too long and complicated for some people. I have found a way to write a simple promissory note, but does anyone have or does any know if we can make a Deed of Trust 1 - 2 pages . I'll pay someone to make us one that's legal for the state of Maryland that clearly indicaties trustor, benificiary etc . The terms, loan amount, interest paid etc. I just can't seem to find one less than 16 pages.

I've been told I could write the terms on a napkin and record it at the court house and it would still be legal. I'm not sure about that haha but I'm just trying to make sure I'm professional and simple. There is no reason to confuse people and with documents where half of the verbiage is unrelated to what I would be doing, why even have it in there ya know?

What are you suggestions?

Most Popular Reply

User Stats

602
Posts
357
Votes
Scott Carson
  • Note Investor
  • Austin, TX
357
Votes |
602
Posts
Scott Carson
  • Note Investor
  • Austin, TX
Replied

Get an attorney to do it so its done right!

Loading replies...