Real Estate Attorney – Located in San Antonio Texas
JD GARZA
JD GARZA
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Victor is a mover & shaker in the Real Estate Investment business...I recommend him anytime.
Dan Diaz
Dan Diaz
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Excellent atty. Highly recommendable. Quick & knowledgable.
Larry Offutt
Larry Offutt
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I have used the firm in both purchasing & sell transactions. each time was a pleasure.

Promissory Note & Deed of trust

A promissory note and deed of trust have one simple function to secure the repayment of a loan by placing a lien on the property as collateral. If the loan is not paid, then the lender has the right to sell the property. Both documents are used to make sure the seller secures the repayment of the loan.

A Promissory note with a deed of trust is like an I owe you (IOU). This is a contract that promises to repay the loan. The deed of trust is the document that secures the loan with the property in case of default.

Price: $450 (Setup an appointment here)

In this video:

  • Can anyone do a deed of trust? 
  • What does this service include? 

Table of Contents

How is a deed of trust different from a mortgage?

men shaking h&sA deed of trust is different from a mortgage due to the number of parties involved and how the lender can resolve an unpaid loan. If the borrower can’t pay a mortgage, then the lender forecloses. If a loan isn’t repaid with a deed of trust, then it is the responsibility of the trustee. A trustee is a third party, usually an escrow company that pays.

If the borrower can’t pay the mortgage, then it goes through a traditional court process. This is known as a judicial foreclosure. This requires the lender to file a lawsuit. If a deed of trust is the instrument used, then the court process is bypassed. This is known as a non-judicial foreclosure. It is usually a lot faster and less costly. For typical investors and homeowners, this is the better route to choose in selling property. The terms of the procedures are usually laid out in the deed of trust which are subject to state law.

More Details about a Promissory note & deed of trust

The promissory note will give; the terms of the loan, loan amount, interest rate, payment schedule, etc. Usually the deed of trust attests the home is worth more than the amount loaned to protect from default. This is usually a given. You cannot get a deed of trust and promissory note for more than the home is worth just in case you do go into default. The home is the collateral. When using this type of instrument, confirm the loan amount and price of the home are beneficial to the buyer and the seller even in case of default.

When you are closing with a promissory note and deed of trust, it is imperative that a clear title search is completed to ensure the taxes are current. It’s important there are no other outstanding loans or debts against the home.

FAQ

There are many negotiable items, such as term of the loan, and interest.

To do a promissory note we need to have all parties to the transaction sign and notarize the necessary documents. It then has to be recorded in Bexar county for it to be valid.

A note is basically an IOU that contains the promise to repay the loan. White the mortgage or deed of trust is the document that pledges the property as security for the loan.

Between a warranty deed and a deed of trust are that a warranty deed transfers property ownership from current owner to new buyer. And deed of trust ensures that the interest in the property has the lender at best interest in the event the buyer defaults on a loan.

View Other Types of Investor Related Real Estate Transactions

Maas Law Firm, Texas Real Estate Attorney

We are a San Antonio Real Estate Law firm that offers fixed fee rates for a variety of legal transaction services, including Owner Finance & Wraparound Closings, Foreclosures, Deeds & Releases, Real Estate Contracts, Title Issues & Judgments, Wills & Estates, Probate & Administration, & LLC Formations. If you need help assessing your case give our office a call. 

Victor has been doing real estate transactions as a lawyer since 2002 & as an investor himself since 2003. There are a lot of nuances with real estate & we hope that if you have any questions to contact us during regular business hours. Along with being a Real Estate Attorney, Victor is also a Real Estate Broker, making his expertise long standing & efficient. 

Michael Eronini
Michael Eronini
Read More
Victor has closed a bunch transactions for us. Very knowledgeable & efficient!
Mandy Molina
Mandy Molina
Read More
Mr. Maas is extremely professional & makes the process quick & painless. Thank you for helping me today. You're a blessing.
Alfredo Ibarra
Alfredo Ibarra
Read More
This lawyer knows his stuff & doesn’t back down from a fight!
JD GARZA
JD GARZA
Read More
Victor is a mover & shaker in the Real Estate Investment business...I recommend him anytime.
Previous
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Maas Law Firm, Texas Real Estate Attorney

We are a San Antonio Real Estate Law firm that offers fixed fee rates for a variety of legal transaction services, including Owner Finance & Wraparound Closings, Foreclosures, Deeds & Releases, Real Estate Contracts, Title Issues & Judgments, Wills & Estates, Probate & Administration, & LLC Formations. If you need help assessing your case give our office a call.  Victor has been doing real estate transactions as a lawyer since 2002 & as an investor himself since 2003. There are a lot of nuances with real estate & we hope that if you have any questions to contact us during regular business hours. Along with being a Real Estate Attorney, Victor is also a Real Estate Broker, making his expertise long standing & efficient. 
Michael Eronini
Michael Eronini
Read More
Victor has closed a bunch transactions for us. Very knowledgeable & efficient!
Mandy Molina
Mandy Molina
Read More
Mr. Maas is extremely professional & makes the process quick & painless. Thank you for helping me today. You're a blessing.
Alfredo Ibarra
Alfredo Ibarra
Read More
This lawyer knows his stuff & doesn’t back down from a fight!
JD GARZA
JD GARZA
Read More
Victor is a mover & shaker in the Real Estate Investment business...I recommend him anytime.
Previous
Next

Maas Law Firm, Texas Real Estate Attorney

We are a San Antonio Real Estate Law firm that offers fixed fee rates for a variety of legal transaction services, including Owner Finance and Wraparound Closings, Foreclosures, Deeds and Releases, Real Estate Contracts, Title Issues and Judgments, Wills & Estates, Probate and Administration, and LLC Formations. If you need help assessing your case give our office a call. 

Victor has been doing real estate transactions as a lawyer since 2002 and as an investor himself since 2003. There are a lot of nuances with real estate and we hope that if you have any questions to contact us during regular business hours. Along with being a Real Estate Attorney, Victor is also a Real Estate Broker, making his expertise long standing and efficient. 

Contact

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Directions

Located on IH-10 Between Huebner & De Zavala off Woodstone: 11815 W IH-10 #107, San Antonio, TX 78230

Directions

Located on IH-10 Between Huebner & De Zavala off Woodstone: 11815 W IH-10 #107, San Antonio, TX 78230

Contact

Fields marked with an * are required

Directions

Located on IH-10 Between Huebner & De Zavala off Woodstone: 11815 W IH-10 #107, San Antonio, TX 78230

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