Transfer title of a Mississippi real estate property from a seller to a trustee with this Mississippi Purchase Money Deed of Trust.
- A Deed of Trust is often used instead of a mortgage in the sale and purchase of real property.
- Title to the property is conveyed to the trustee instead of to the buyer. The title is then held as security to ensure the buyer's performance of its obligations (including payment of the purchase price, maintenance and upkeep of the property, payment of taxes, etc).
- If the buyer defaults in payment, the balance becomes due and payable and the trustee may sell the property.
- The buyer is responsible for paying all taxes, assessments, liens and other charges against the property.
- The lender has the right to appoint a successor trustee at any time, at its option.
This Mississippi Purchase Money Deed of Trust
form is provided in MS Word format, and is fully editable to meet your needs.