West Virginia - Mcdowell County Deed of Trust and Promissory Note Forms

Included Forms

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

Deed of Trust Form - Mcdowell County

Fill in the blank form formatted to comply with all recording and content requirements.
Included document last updated 2/15/2023

Deed of Trust Guidelines - Mcdowell County

Line by line guide explaining every blank on the form.
Included document last updated 11/25/2022

Completed Example of the Deed of Trust Document - Mcdowell County

Example of a properly completed form for reference.
Included document last updated 10/21/2022

Promissory Note - Mcdowell County

Note that is secured by the Deed of Trust.
Included document last updated 2/13/2023

Promissory Note Guidelines - Mcdowell County

Line by line guide explaining every blank on the form.
Included document last updated 2/28/2023

Completed Example of the Promissory Note Document - Mcdowell County

Example of a properly completed form for reference.
Included document last updated 2/3/2023

Subordination Clauses - Mcdowell 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 2/7/2023

Annual Accounting Statement - Mcdowell County

Mail to borrower for fiscal year reporting.
Included document last updated 1/9/2023

Included Supplemental Documents

The Following West Virginia and Mcdowell 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)

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 West Virginia or Mcdowell 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 Mcdowell 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 Mcdowell 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 Mcdowell County that you need to transfer you would only need to order our forms once for all of your properties in Mcdowell County.
• Are these forms guaranteed to be recordable in Mcdowell County ?
  • Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Mcdowell 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:

• Mcdowell County

Including:

• Anawalt
• Avondale
• Bartley
• Berwind
• Big Sandy
• Bradshaw
• Cucumber
• Davy
• Eckman
• Elbert
• Elkhorn
• Gary
• Hemphill
• Hensley
• Iaeger
• Isaban
• Jenkinjones
• Jolo
• Kimball
• Kyle
• Maybeury
• Mohawk
• Newhall
• Northfork
• Pageton
• Panther
• Paynesville
• Premier
• Raysal
• Roderfield
• Squire
• Switchback
• Thorpe
• War
• Warriormine
• Welch
• Wilcoe

What is the West Virginia Deed of Trust and Promissory Note?

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.

Our Promise

The documents you receive here will meet, or exceed, the Mcdowell 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 Mcdowell 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:

4.8 out of 5 (3967 Reviews)

March 27th, 2023

Name: Clarence R.

Review: service from your team was quick and very accurate. My experience was excellent.

Reply from Staff on March 27th, 2023

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March 27th, 2023

Name: Theresa J.

Review: The beginning of the process was very simple. In the middle now waiting for the invoice to move forward.

Reply from Staff on March 27th, 2023

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March 26th, 2023

Name: marion v.

Review: Phenomenal website !

Reply from Staff on March 26th, 2023

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Name: Tonni L.

Review: Quick and easy with great instructions and accurate documents. I plan to make this site a part of our financial planning. Highly recommend. Saved big by this DIY process. TL

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Name: Kimberly H.

Review: Very fast and easy to use!

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Name: Laura H.

Review: Process was easy. The instructions for TOD and a sample completed form was very helpful. E-recording of deed saved a trip to the county building and well worth the very reasonable charge.

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Name: Donna M.

Review: Appreciated the ability to not only download the form but the instruction's AND a sample.

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Name: William A B.

Review: Good service...deed release form as required.

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Name: Paul S.

Review: Worked very well

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Name: PAMELA D.

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Name: Michele S.

Review: This is a great service if you know what youre looking for. Unfortunately it just wasnt right for me and my situation.

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Name: Dana Y.

Review: Purchased and used the quitclaim form. I have no complaints with any aspect. The forms, instructions, and example all came together to make the process very easy.

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Name: Michael K.

Review: I haven't used them yet. So far so good.

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Name: CARMEN R J.

Review: Thank you intensly

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Name: Susan S.

Review: Great forms, easy to understand and use (the guide helped a lot). Recorded with no issues. Will be back when needed.

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