Buying Homes in Foreclosure

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Form-of-the-Week: Purchase Agreement for Note and Trust Deed, and Agreement to Hypothecate — Forms 241 and 242

Form-of-the-Week: Purchase Agreement for Note and Trust Deed, and Agreement to Hypothecate — Forms 241 and 242

by | Jan 15, 2024

A trust deed loan broker uses these forms when arranging the purchase by a trust deed investor of an existing trust deed note held out for sale to prepare an offer stating the price and conditions for purchase of the trust deed note, and when arranging a loan made by a trust deed investor collateralized by an existing trust deed note held by the borrower to prepare an offer by the investor for the borrower’s acceptance stating the terms and conditions for making the collateralized loan.

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Form-of-the-Week: Trust Deed Listing, and Purchase Agreement for Note and Trust Deed — Forms 112 and 241

Form-of-the-Week: Trust Deed Listing, and Purchase Agreement for Note and Trust Deed — Forms 112 and 241

by | Dec 1, 2023

A trust deed broker uses these forms when employed by the holder of a trust deed note, to act as their exclusive agent to locate an investor and negotiate the terms for the sale of the note, and a loan broker uses these forms when arranging the purchase by a trust deed investor of an existing trust deed note held out for sale, to prepare an offer stating the price and conditions for purchase of the trust deed note.

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Errata & Updates

  • Effective January 1st, 2021, California homeowners qualify for a net equity homestead protection of up to $300,000 or the median sale price for a single family residence (SFR) in the homeowner’s county in the calendar year prior to the year in which they claim the exemption, not to exceed $600,000 (adjusted annually for inflation). [CCP §704.730] For more on this topic, see Form-of-the-Week: Homestead exemption, an asset preservation declaration – Form 465