Mississippi - Grenada County Deed of Trust and Promissory Note Forms

Included Forms

All Grenada County specific forms and documents listed below are included in your immediate download package:

Deed of Trust Form - Grenada County

Fill in the blank form formatted to comply with all recording and content requirements.
Included document last updated 2/28/2023

Deed of Trust Guidelines - Grenada County

Line by line guide explaining every blank on the form.
Included document last updated 12/28/2022

Completed Example of the Deed of Trust - Grenada County

Example of a properly completed form for reference.
Included document last updated 1/11/2023

Promissory Note Form - Grenada County

Note that is secured by the Deed of Trust.
Included document last updated 1/9/2023

Promissory Note Guidelines - Grenada County

Line by line guide explaining every blank on the form.
Included document last updated 12/20/2021

Completed Example of the Promissory Note Document - Grenada County

Example of a properly completed form for reference.
Included document last updated 9/29/2022

Subordination Clauses - Grenada County

Used to place priority on claim of debt. Included are 4 clauses for unique situations. If needed, add to Deed of Trust as an addendum or rider.
Included document last updated 2/1/2023

Annual Accounting Statement - Grenada County

Mail to borrower for fiscal year reporting.
Included document last updated 3/9/2023

Included Supplemental Documents

The Following Mississippi and Grenada County supplemental forms are included as a courtesy with your order.

Homestead Exemption Worksheets (Mississippi Document)

Certificate of Acknowledgment (Mississippi Document)

Frequently Asked Questions:

• How long does it take to get my forms?
  • Forms are available immediately after submitting payment.
• What are supplemental forms?
  • Often when a deed is recorded additional documents are required by Mississippi or Grenada County. These could be tax related, informational, or even as simple as a coversheet. Supplemental forms are provided for free with your order where available.
• How do I get my forms, are they emailed?
  • After you submit payment you will see a page listing the Grenada County forms you ordered with a download link to the pdf form file. You download the forms to your computer. You will also receive an email with a link to your download page in case you need it later.
• What type of files are the forms?
  • All of our Grenada County Deed of Trust and Promissory Note forms are PDFs. You will need to have or get Adobe Reader to use our forms. Adobe Reader is free software that most computers already have installed.
• Can the Deed of Trust and Promissory Note forms be re-used?
  • Yes. You can re-use the forms for your personal use. For example, if you have more than one property in Grenada County that you need to transfer you would only need to order our forms once for all of your properties in Grenada County.
• Are these forms guaranteed to be recordable in Grenada County ?
  • Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Grenada County including margin requirements, content requirements, font and font size requirements.
• Do I have to enter all of my property information online?
  • No. The blank forms are downloaded to your computer and you fill them out there, at your convenience.
• Can I save the completed form, email it to someone?
  • Yes, you can save your deed form at any point with your information in it. The forms can also be emailed, blank or complete, as attachments.
• Do I need any special software to use these forms?
  • You will need to have Adobe Reader installed on your computer to use our forms. Adobe Reader is free software that most computers already have installed.
• Are there any recurring fees involved?
  • No. Nothing to cancel, no memberships, no recurring fees.

Areas covered by these Deed of Trust and Promissory Note Forms:

• Grenada County

Including:

• Elliott
• Gore Springs
• Grenada
• Holcomb
• Tie Plant

What is the Mississippi Deed of Trust and Promissory Note?

In Mississippi, a Deed of Trust (DOT) is the most commonly used instrument to secure a loan. If the DOT has a "Power of Sale" clause, foreclosure can be done non-judicially, saving time and expense, because the trustee doesn't require the court's involvement. This process is called a Trustee Sale. Explained in Mississippi 89-1-55 - "How lands sold under mortgages and Deeds in Trust"
There are three parties in this Deed of Trust:
1- The Grantor (Borrower)
2- Beneficiary (Lender) and a
3- Trustee (Neutral Third Party)
Basic Concept. The Grantor (Borrower) conveys property title to a Trustee (Neutral Party). A Trustee or beneficiary/Lender can take action against any person for damages.

(The beneficiary or holder of any deed of trust, including his agents, employees, successors, assigns, attorneys-in-fact or other legal representatives, may appoint a trustee or substitute a trustee, with or without the permission of the mortgagor or mortgagors. The trustee or substitute trustee so appointed may be a natural person, partnership, corporation, limited liability company, professional association or any other legal entity.) (MS Code 89-1-63)(3))

Debtors/Borrowers shall be in default under the provisions of this Deed of Trust if Debtor
(a) shall fail to comply with any of Debtor's covenants or obligations contained herein,
(b) shall fail to pay any of the Indebtedness secured hereby, or any installment thereof or interest thereon, as such Indebtedness, installment or interest shall be due by contractual agreement or by acceleration,
(c) shall become bankrupt or insolvent or be placed in receivership,
(d) shall, if a corporation, a partnership or an unincorporated association, be dissolved voluntarily or involuntarily, or
(e) if Secured Party in good faith deems itself insecure and its prospect of repayment seriously
impaired.

This form can be used by a party selling/financing a house, rental property, condominium or small office building. For use in Mississippi Only.

Promissory Note secured by Deed of Trust
A Deed of Trust and Promissory Note are usually executed/signed at the same time. The Promissory Note contains the finance terms.
Details:

1. Dollar amount of Principle Owed

2. Installment payments or Balloon payment (common with owner financing, borrower can establish history of payments and equity, which banks attractive when financing)
3, Late Charges, $ owed after so many days, with $ owed for each additional day.

4. Default Rate: If Borrowers go into default an increased interest rate is charged, until note is out of default.

5. Overdue Loan Fee: In addition to any other remedies available to Lender if this Note is not paid in full at the Maturity Date, Borrowers shall pay to Lender an Overdue Loan Fee, which fee shall be due at the time this Note is otherwise paid in full. The "Overdue Loan Fee" shall be determined based upon the outstanding principal balance of this Note as of the Maturity Date and shall be:
(a) one percent (1.0%) Of such principal balance if the Note is paid in full on or after thirty (30) days after the Maturity Date but less than sixty (60) days after the Maturity Date, or
(b) two percent (2.0%) of such principal balance if the Note is paid in full on or after sixty (60) days after the Maturity Date.

The obligations of Borrower to Lender under this Note and the Additional Obligations herein remain in full force and effect until Lender has received payment in full of all obligations.
This Note and the Loan Documents are made in and shall be governed by the State of Mississippi. Upon Lender's request, the venue of any legal action in connection with this Note or the Loan Documents shall be in _________County, Mississippi.

Attorney's Fees and Costs: Borrower shall pay all costs incurred by Lender in collecting sums due under this Note after a default, including reasonable attorneys' fees, whether or not suit is brought.

This Deed of Trust and Promissory Note, has stringent default terms and is suitable to owner selling/financing or investor financing.

Our Promise

The documents you receive here will meet, or exceed, the Grenada County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

Save Time and Money

Get your Grenada County Deed of Trust and Promissory Note form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.

Customer Reviews:

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March 19th, 2023

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