An Alabama Deed of Trust is a legal agreement that accompanies many real estate conveyances and involves three parties: a trustor (a borrower), a trustee, and a beneficiary (a lender). The trustee holds title to the real property, conveyed by the trustor to the beneficiary until the loan is paid off. An Alabama Deed of Trust accompanies many real property transfers when the buyer requires a loan to pay for the real property. Following the provisions of the Alabama Code, your trust deed must be executed in writing and signed by the trustor in the presence of witnesses (35-4-20).
Related Forms and Topics: