All Fayette County specific forms and documents listed below are included in your immediate download package:
The Following West Virginia and Fayette County supplemental forms are included as a courtesy with your order.
Declaration of Consideration (West Virginia Document)
Sales Listing Form (West Virginia Document)
Instructions for Sales Listing Form (West Virginia Document)
Certificate of Acknowledgment - Individual (West Virginia Document)
Certificate of Acknowledgment - Representative (West Virginia Document)
Verification of an Oath - Jurat (West Virginia Document)
Including:
There are three parties in this Deed of Trust:
1- The Trustor (Borrower)
2- Beneficiary (Lender) and a
3- Trustee (Neutral Third Party)
Basic Concept. The Trustor (Borrower) conveys property title to a Trustee (Neutral Party). A Trustee or beneficiary/Lender can take action against any person for damages.
In West Virginia, 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 WV Statute 38-1-3. "Sales under trust deeds."
Proceeds of Trustee Sale: After deducting all costs, fees and expenses of Trustee and of this trust, including the cost of evidence of title in connection with the sale and reasonable attorney's fees, trustee shall apply the proceeds of sale to payment of all sums then secured hereby and all other sums due under the terms hereof, with accrued interest, and the remainder, if any, to the persons legally entitled thereto or as provided by W. VA. ARTICLE 1, 38-1-7.
(38-1-2. Form of deed of trust; memorandum of deed of trust may be recorded.) This Form is fully formatted for W.VA. recording requirements.
Promissory Note secured by Deed of Trust.
In general, the lender can charge 6% with no written contract and 8% with a written contract. Exceptions are made, see W. VA. Statute 47-6-5, "Legal rate of interest".
Terms:
A- Principle Owed and Maturity Date of Loan
B- Payments - Traditional Installment or installments with a Balloon Payment.
C- Late Payments: So much $ owed after X number of days, plus $ for each day after.
D- Default Rate: If payment is at least 30 days past due, then the principal balance shall bear interest at default rate of $$$.
E- 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.
F- Default Terms: If any of the following events of default occur, this Note and any other obligations of the Borrower to the Lender, shall become due immediately, without demand or notice:
1) the failure of the Borrower to pay the principal and any accrued interest when due;
2) the filing of bankruptcy proceedings involving the Borrower as a debtor;
3) the application for the appointment of a receiver for the Borrower;
4) the making of a general assignment for the benefit of the Borrower's creditors;
5) the insolvency of the Borrower;
6) a misrepresentation by the Borrower to the Lender for the purpose of obtaining or extending credit.
7) In addition, the Borrower shall be in default if there is a sale, transfer, assignment, or any other disposition of any real estate pledged as collateral for the payment of this Note, or if there is a default in any security agreement which secures this Note.
G- Venue: If legal action is required, Lender provides the County of such actions.
This package can be used for financing of residential property, a condominium, a small office building and rental property (up to 4 units). A Promissory Note secured by a Deed of Trust with strong default terms can be beneficial to the Lender. This form has terms and conditions defined by W. VA. Statutes, for use in W. VA only.
The documents you receive here will meet, or exceed, the Fayette County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.
Get your Fayette 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.
May 27th, 2022
Name: Judy F.
Review: The site was easy to use, I just wasn't sure which of all these documents I needed.
Reply from Staff on May 27th, 2022
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May 26th, 2022
Name: GISELLE G.
Review: Quick and easy. I will definitely use this services again.
Reply from Staff on May 26th, 2022
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May 26th, 2022
Name: Dawn L.
Review: Not totally satisfied as unable to edit as needed on signature page of the deed. I want to be able to date the document and don't want the verbage "signed, sealed and delivered in the presence of" to appear and cannot remove it. The notary will make his or her own statement below as to the date executed.
Reply from Staff on May 26th, 2022
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May 26th, 2022
Name: Susan K.
Review: First time using DEEDS.COM and very helpful with documents to fill out. I highly recommend this company for all your needs .Thank you.
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May 26th, 2022
Name: Bonnie M.
Review: I received what I requested. Then I didn't need it after all.
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May 26th, 2022
Name: Rick L.
Review: I love it! Very convenience.
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May 25th, 2022
Name: Estelle R.
Review: Easy to download. Hopefully easy to fill in. Just wish there was wording for a Beneficiary Deed for moving real estate property owned by a married couple to their Trust upon death of last Trustee.
Reply from Staff on May 25th, 2022
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May 25th, 2022
Name: Rebecca G.
Review: Very user friendly. Forms professional and acceptable to state applicable to. Appreciate the sample & instructions.
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May 25th, 2022
Name: Lisa W.
Review: The easiest thing to use ever. Amazing and extremely prompt support. They get the job done with all the information you might need
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May 24th, 2022
Name: Garrett R.
Review: I am a real estate attorney in CA. These Wyoming model deeds look too basic and barely adequate: no usual name and address at the top for tax statements and who recorded it. Some old fashioned legalese that only obfuscates. I won't use them. Your background info was good though.
Reply from Staff on May 25th, 2022
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