Document background
The Deed of Trust Note is a crucial document in Philippine property and finance law, commonly used in real estate financing and secured lending transactions. It serves a dual purpose: documenting a loan obligation and creating a security interest in property. When implementing a Deed of Trust Note, parties must ensure compliance with Philippine regulations, including the Civil Code, Trust Code of 2018, and relevant banking regulations. The document typically includes detailed terms about the loan amount, interest rates, payment schedules, property description, trustee powers, and default remedies. It's particularly useful in situations requiring additional security for loans while providing lenders with an efficient foreclosure process outside of court proceedings. The structure must be carefully drafted to ensure enforceability and protect all parties' interests under Philippine jurisdiction.
