Transfer ownership of a Washington property from a seller to a trustee with this Washington Deed of Trust form.
- A Deed of Trust is an alternative for a mortgage loan when purchasing real estate property (other than agricultural land).
- The title to the property is conveyed to a trustee instead of to the purchaser. The trustee holds the title to ensure that the purchaser honors its obligations (including payment of the purchase price, maintenance and upkeep of the property, payment of taxes, etc).
- If the borrower defaults in making a payment, the entire balance becomes due and payable and the trustee can sell the property.
- The Deed of Trust contains uniform covenants regarding payments, funds for taxes and insurance, prior mortgages, care and maintenance of the property, protection of the lender's security, and other standard clauses.
- The property cannot be land that is used principally for agricultural purposes.
This Washington Deed of Trust
form is provided in MS Word format, and is fully editable to meet your needs.