Leflore County Deed of Trust and Promissory Note Forms (Mississippi)

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Deed of Trust and Promissory Note

State

Mississippi

Area

Leflore County

Price

$27.97

Delivery

Immediate Download

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Included Forms

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

Deed of Trust Form

Deed of Trust Form

Fill in the blank form formatted to comply with all recording and content requirements.
Included document last reviewed/updated 8/4/2023

Deed of Trust Guidelines

Deed of Trust Guidelines

Line by line guide explaining every blank on the form.
Included document last reviewed/updated 11/30/2023

Completed Example of the Deed of Trust

Completed Example of the Deed of Trust

Example of a properly completed form for reference.
Included document last reviewed/updated 11/17/2023

Promissory Note Form

Promissory Note Form

Note that is secured by the Deed of Trust.
Included document last reviewed/updated 11/28/2023

Promissory Note Guidelines

Promissory Note Guidelines

Line by line guide explaining every blank on the form.
Included document last reviewed/updated 11/29/2023

Completed Example of the Promissory Note Document

Completed Example of the Promissory Note Document

Example of a properly completed form for reference.
Included document last reviewed/updated 9/15/2023

Subordination Clauses

Subordination Clauses

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 reviewed/updated 12/1/2023

Annual Accounting Statement

Annual Accounting Statement

Mail to borrower for fiscal year reporting.
Included document last reviewed/updated 9/15/2023

Included Supplemental Documents

The following Mississippi and Leflore County supplemental forms are included as a courtesy with your order.

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 or Leflore 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 Leflore 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 Leflore 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 Leflore County that you need to transfer you would only need to order our forms once for all of your properties in Leflore County.

Are these forms guaranteed to be recordable in Leflore County?

Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Leflore 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:

  • Leflore County

Including:

  • Greenwood
  • Itta Bena
  • Minter City
  • Money
  • Morgan City
  • Schlater
  • Swiftown

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 financing residential property, rental property, condominiums or small office buildings. Note: if the property being financed is rental, see (Assignment of Leases and Rents Form) it acts to induce the lender to finance.

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.

For use in Mississippi only.

Our Promise

The documents you receive here will meet, or exceed, the Leflore 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 Leflore 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.

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4.8 out of 5 (4215 Reviews)

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December 5th, 2023

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December 4th, 2023

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December 1st, 2023

Very helpful. Easy to use. Able to avoid the cost of having an attorney prepare the document I needed.

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clenio o.

May 11th, 2021

Very helpful. The Register office is closed in Detroit due to covid, but after using it, I would do it regardless. Thank you.

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ray r.

July 17th, 2020

excellent service

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October 18th, 2021

I love that this service is available. Uploading my document took no time at all. I love that we have an option of upload our documentsinsread of going in to file.

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PAUL B.

August 18th, 2023

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Kris S.

July 15th, 2021

Being a real estate agent I know just enough about legal documents to get in trouble. Thankfully the pros here know what they are doing.

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Anita M.

March 10th, 2019

This was a very easy process to find the correct documents and download them. The price was also reasonable.

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Steven S.

December 31st, 2021

Accurate and informative, great site for deed forms.

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Walter K.

November 24th, 2021

Works ok but could have more specific information. My wife and I both own the Quit Claim property, should we both sign as Grantors?

Reply from Staff

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Ida L.

June 9th, 2020

The form was easy to complete and print. Best price found online.

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Carol H.

October 8th, 2022

Easy to understand, quick access, inexpensive, and I took it to my registrar's office and he said the warranty deed was good to go. Thanks for saving me a bundle in lawyer's fees.

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Sherilyn L.

February 14th, 2020

Easy to use & cost is great
Thank you

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Kimberly S.

April 21st, 2022

I wasted a lot of my time because I didn't do any research to know what I needed. Nobody fault but mine.

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