How do I create deed to secure debt?

I've loaned my parents 50K to buy a house and now I like to secure this debt so that they can't sell without clearing my loan with them. Is it simply a matter of filling out a form and submitting it to the recorder office?

How do I create deed to secure debt?
I will assume your parents will need to take a note to buy the place if so the lender will want to be first lien holder on the property or they will not do the deal, so you may have to wait to file until after the first note has been recorded
Reply:You are getting a lot of semi-accurate advice so far.





You need a promissory note and a trust deed; or a promissory note and a mortgage. The mortgage or trust deed must be recorded to be effective. The note itself is not recorded. The problem with this solution is that it will probably create a default under their other loan with their mortgage lender. Plus if their house already has existing liens for taxes, judgments, and such, your mortgage or trust deed may be worthless. This is not simple. See a local lawyer.
Reply:No...you will need your parents to sign a mortgage note stating the loan is secured by the house (otherwise, anyone could file a lien against anyone at any time). Once you have the secured note (mortgage), you can then file the lien (most likely there is a fee, check with the appropriate local agency for paperwork, fees, and needed signatures).
Reply:How sad this is. I am sorry your family needs things like this. First, distribution of funds in a family should be based on need. Give your parents the money, but don't make this a business venture.





However, have them sign mortgage loan documents secured by a deed of trust on the property, then record it with your county recorder. You can get the forms from a legal supply store. Escrow won't be needed.
Reply:Contact a title agent in your area. They can draw up a private mortgage to be executed and recorded. A deed is used to transfer the title to property.

azalea tree