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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Blanket Encumbrance Posted by Travis-CA on August 06, 2003 at 7:13 PM In Reply to: Double TD posted by damien on August 06, 2003 at 7:05 PM : Ward, : Someone asked me about securing a note to 2 properties at the same time. Is this possible?, it's the first I have heard of such a thing. Would you just file a TD on both properties with one note? : Thanks for the help. : Damien Damien, What you are refering to is known as a blanket encumbrance, it allows one deed of trust, mortgage or sales contract to encumber many properties. These typically have a release clause that allows for specific properties to be released from the lien upon payment of agreed sums. These are very common with developers who borrow a large sum to build many homes and the bank releases the homes as they are sold one by one. Travis Follow Ups: Re: Blanket Encumbrance Rick Harmon 7:56 AM, 08/07/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Someone asked me about securing a note to 2 properties at the same time. Is this possible?, it's the first I have heard of such a thing. Would you just file a TD on both properties with one note? : : Thanks for the help. : : Damien : Damien, : What you are refering to is known as a blanket encumbrance, it allows one deed of trust, mortgage or sales contract to encumber many properties. These typically have a release clause that allows for specific properties to be released from the lien upon payment of agreed sums. These are very common with developers who borrow a large sum to build many homes and the bank releases the homes as they are sold one by one. : Travis Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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