Real estate-related deeds of trust

Reference no: EM133683880

Question

Harry and Margaret Smith, a California husband and wife, are buying a house from Jack and Phyllis Jones, also a married couple. The Smiths have obtained financing from Number One Bancorp in the form of a loan for $400,000. They are, additionally, paying the Joneses $100,000 in a down payment, which payment they are making in cash. The promissory note to the bank for the $400,000 is to be secured by a deed of trust. Draft the deed of trust. In places where you believe information is missing, invent information that fits the description. Further discussion will be had on sources and methods of accessing forms useable in California for real estate-related deeds of trust.

Reference no: EM133683880

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