Missouri Deed of Trust and Promissory Note
County or Independent City Forms
Where is the property located?
Adair CountyAndrew CountyAtchison CountyAudrain CountyBarry CountyBarton CountyBates CountyBenton CountyBollinger CountyBoone CountyBuchanan CountyButler CountyCaldwell CountyCallaway CountyCamden CountyCape Girardeau CountyCarroll CountyCarter CountyCass CountyCedar CountyChariton CountyChristian CountyClark CountyClay CountyClinton CountyCole CountyCooper CountyCrawford CountyDade CountyDallas CountyDaviess CountyDekalb CountyDent CountyDouglas CountyDunklin CountyFranklin CountyGasconade CountyGentry CountyGreene CountyGrundy CountyHarrison CountyHenry CountyHickory CountyHolt CountyHoward CountyHowell CountyIron CountyJackson CountyJasper CountyJefferson CountyJohnson CountyKnox CountyLaclede CountyLafayette CountyLawrence CountyLewis CountyLincoln CountyLinn CountyLivingston CountyMacon CountyMadison CountyMaries CountyMarion CountyMcdonald CountyMercer CountyMiller CountyMississippi CountyMoniteau CountyMonroe CountyMontgomery CountyMorgan CountyNew Madrid CountyNewton CountyNodaway CountyOregon CountyOsage CountyOzark CountyPemiscot CountyPerry CountyPettis CountyPhelps CountyPike CountyPlatte CountyPolk CountyPulaski CountyPutnam CountyRalls CountyRandolph CountyRay CountyReynolds CountyRipley CountySaint Charles CountySaint Clair CountySaint Francois CountySaint Louis CountySaint Louis CitySainte Genevieve CountySaline CountySchuyler CountyScotland CountyScott CountyShannon CountyShelby CountyStoddard CountyStone CountySullivan CountyTaney CountyTexas CountyVernon CountyWarren CountyWashington CountyWayne CountyWebster CountyWorth CountyWright CountyDeed of Trust and Promissory Note for Real Estate Located in Missouri
A Deed of Trust is a (security instrument securing the payment or satisfaction of any debt or other obligation.) (MRS 443.005) This is often considered a preferred method of financing real property because foreclosures are done non-judicially with no right of redemption, through a trustee sale, saving time (typically 60-90 days if uncontested) and expense. This Deed of Trust contains a "Power of Sale" clause, in the case of default the borrower(s) have pre-authorized the sale of the property. Without a "Power of Sale" a judicial foreclosure will likely have to be performed. (See 443.290 Mortgages and security agreements with power of sale)
The "Promissory Note" defines the terms of the loan, Principle owed, interest rate charged, default rate (interest charged if Note is in Default), late payment fees, etc.
These forms are flexible, use for residential, rental units, vacant land, small office and commercial. A "Special Provisions" section allows the lender to further customize the package to his/her needs. Can be used when existing liens are in place.
Fully formatted for recording. (See MRS 443.035. Recording of instrument required)
A Deed of Trust and Promissory Note that includes stringent default terms can be beneficial the lender/debt holder.
(Missouri DOT Package includes forms, guidelines, and completed examples)