Lost Trust Deed Bonds (or Lost Trust Note Bonds) are a type of surety bond and are typically required by financial instrument transfer agents, such as banks. If an individual or business has paid off a lien on a property, but they do not have the deed removing the lien, a Lost Trust Deed Surety Bond may be obtained to remove the loan from the deed. These bonds are typically necessary in one of two situations: either, the deed was lost, or the company that put the lien on the property is no longer in business.
Here at Surety1, we can write these bonds starting off between 1-2% of the bond amount. The bond amount for these bonds is always double the loan amount. When applying for the bond, the best way to be sure that the correct information is input to the application is to check what the loan amount is first so we can be sure to have the bond correctly issued.
This bond can be applied for at our website—www.surety1.com. These bonds also require a copy of the title report or preliminary report, which you can attach as a PDF to the application to expedite the process. Once the application has been submitted, an agent from our office will be in contact requesting this document if not already provided. Once that has been submitted, we will be able to issue the quote for the bond in 1-2 business days.