Posted by Two Cities on November 03, 1998 at 12:03:21:
In Reply to: Public Notice: Notice and Demand False Liability Claim, EMC Mortgage Corporation posted by CP on October 30, 1998 at 10:52:21:
Some components of a mortgage.
A promissory note and a security.
The note is the contract that is being enforced.
The security often takes the form of a "Deed of Trust",
where the actual ownership of the property is vested
with the trustee. The trustee will carry out his obligation,
which is on behalf of the note-holder.
Carefully read the legal description of what was placed
in trust, and what you will get back, once the terms
of the promise are fulfilled. They will not give you back
the original "Deed of Trust". They will re-convey the
property back. Whether this RECONVEYANCE delivers
at time of fulfilment that which you originally gave
in trust, is subject to interpretation. At any rate,
re-conveyance can in no way be interpreted as a dissolution
of the trust, which therefore remains with some residual
My guess is that you conveyed, at the time of
purchase some real property "Situate in County of Xxxx",
along with all rights to land etc.
Other paperwork will also name property situate
in COUNTY OF XXXX, which will have been recorded,
in order to ensure PROPERTY TAX ASSESSMENT legal
requirements. RECORDATION is voluntary, but appears
to transfer the liability of TAXATION in non-money.
Entities were created all along as a result of
these contracts, and you agreed to perform the
duties and obligations of those Entities, and ENTITIES.
Why would you want to refinance with the same institution
that is giving you trouble?
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