Legal Question in Real Estate Law in California

I have a Promissary note that is secured with a Deed of Trust. The deed was never recorded, but was notorized by the attorney that wrote up the Promissary Note. Can a Lost Deed of Trust help me to finally record this deed I have, and do I need it recorded for the Promissary note to be valid?

Asked on 6/21/13, 2:37 pm

2 Answers from Attorneys

William Christian Rodi Pollock

A deed of Trust is a security interest, like a mortgage. That document provides security for the note. The note is a binding legal document whether you perfect the security interest or not by recording it. The recording advised the world ( and most important future holders of security interests or purchasers of the property) that you have a lein on the property.

Since you did not record the deed of trust, any existing security interest will have priority over your security. Thus you may want to look at title for the property to determine what your security may be. If the original borrower has sold the property to a purchaser who had no knowledge of your security, you may no longer have any security interest in the property. If more loans were made on the property, those lenders can collect from the property proceeds before you can.

Please see an attorney to pursue collection of the debt and to examine your security interest. This gratuitous response does not create an attorney client relationship. The advice provided herein is generic, may not apply to your circumstances and is not to be relied upon in your actions. An attorney client relationship is created only upon execution of an engagement letter hiring me or my firm.

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Answered on 6/21/13, 2:49 pm

Anthony Roach Law Office of Anthony A. Roach

Do you have the deed of trust now? Or is it gone period?

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Answered on 6/21/13, 3:00 pm

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