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The following is a list of some documents that
may be recorded and a description or definition of each document. The
descriptions are general and are not intended to be complete legal definitions.
If you wish to use any particular document, we suggest that you contact Mike
& Kim Plisky and Associates or an attorney.
Abandonment of Homestead
ADB
HOMESTEAD
Document recorded to terminate a homestead.
Abstract of Judgment
ABST JDGT.
A
summary of the essential provisions of a money judgment. When recorded, it
creates a general lien on real property of the judgment debtor in the county in
which the abstract is recorded.
Assignment of Rents
ASSIGNMENT RENTS
A document which gives the beneficiary the right to collect rent on the
secured property in the event of a default.
Certificate of a Tax Lien
CTF TAX
LIEN
A lien for nonpayment of property taxes. Attaches only to the property
upon which the taxes are unpaid.
Covenants, Conditions, and Restrictions
(CC&R's)
RESTRICTIONS
A term used in some areas to describe the
restrictive limitations, which may be placed, on property. In other areas, they
are simply called restrictions.
Declaration of Homestead
HOMESTEAD
Document recorded by a homeowner to protect his home from forced sale in
satisfaction of certain types of creditors claims.
Decree of Distribution
DEC
DISTRIBUTION
The final determination of the rights of heirs to receive the
property of an estate.
Deed
Written instrument which, when
properly executed and delivered, transfers title to real estate.
Deed of Reconveyance
RECON--RECONVEYANCE
An instrument used to transfer title from a trustee
to the equitable owner of real estate, when title is held as collateral
security for a debt. Most commonly used upon payment in full of a trust deed.
Deed of Trust -- (See Trust Deed)
Easement
The granting of a right
which one has in the land of another. It is either for the benefit of land,
such as right to cross, or "in gross," such as public utility easement.
Federal Tax Lien
A lien attaching to
property for nonpayment of a federal tax (estate, income, etc...).
Fictitious Deed of Trust
FICTITIOUS
TR DD
A deed of trust recorded by a trustee which discloses all the terms
of the trust deed but does not relate to a specific transaction and is used for
reference only.
Grant Deed
A form of deed common in
California that contains implied warranties to the effect that the grantor has
not previously conveyed or encumbered the property.
Judgment
The final determination of
a court on a matter presented to it. Money judgments, when recorded, become a
lien on real property of the defendant.
Lien
A charge upon property for the
payment of debt or obligation.
Lis Pendens
A recorded notice that
litigation (a lawsuit) is pending which may affect the title of the real estate
involved.
Mechanic's Lien
Statutory lien in
favor of laborers and material suppliers who have performed work or furnished
materials or supplies to a work of improvement. If not paid, they have the
right to record a lien within a prescribed period of time.
Notice of Completion
Notice recorded
under the California mechanic's lien law within ten days after completion of a
structure; it shortens the time to file a mechanic's lien.
Notice of Default
DEFAULT--NOD
Recorded notice that a default has occurred under a deed of trust. It is
the first step in non-judicial foreclosure of a deed of trust.
Notice of Rescission
RESCISSION
A recorded notice to rescind a notice of default of a mortgage or deed of
trust.
Notice of Trustee Sale
NT TRUSTEE
SALE
Foreclosure sale conducted by the trustee under a deed of trust after
a default occurs.
Power of Attorney
Instrument used to
appoint an attorney-in-fact.
Quitclaim Deed
A deed used to
transfer any interest in real property that the grantor may have. It contains
no warranties of any kind.
Release
An instrument releasing
property from the lien of the mortgage, judgment, etc. When a trust deed is
used, the instrument is called a reconveyance. In some areas, a "discharge" is
used instead of a release.
Request for Notice of Default
REQUEST NOD
A recorded notice made by the beneficiary of a trust deed
that he be notified in the event that foreclosure proceedings are commenced by
another party of interest.
State Tax Lien
A lien attaching to
property for nonpayment of state income tax.
Subordination Agreement
SUBDN AGMT.
Agreement under which a prior or superior lien is made inferior or subject
to an otherwise junior lien.
Substitution of Trustee
SUBSTN
TRUSTEE
A document which is recorded to change the trustee under a deed of
trust.
Trust Deed (Deed of Trust)
TR DEED
Written instrument by which title to land is transferred to a trustee as
security for a debt or other obligation.
Trustee's Deed
Deed given by the
trustee when property is sold under the power of sale in a trust deed.
Uniform Commercial Code Financing
Statement
UCC FINANCNG STMT.
In California, evidence of a personal
property security agreement that may be filed with the Secretary of State or
recorded with the county recorder under prescribed conditions. It has replaced
the chattel mortgage, and it affects real property if it relates to crops or
timber.
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