A deed of trust is a mortgage arrangement which allows a third party to hold the deed until the buyer has paid his debt. ----- Original Message ----- From: "Charlotte" <[email protected]> To: <[email protected]> Sent: Thursday, September 12, 2002 12:38 PM Subject: [ALPERRY] Lagrone to Liverett Deed of ?Trust? > I am assuming the extract of the deed below tells me the document is a deed of trust. My ancestor is Chesley Liverett. > > Would someone please explain to me (and possibly the list) a 'deed of trust'. > > Would Liverett ultimately own this land even if the debt was satisfied later by Lagrone? Liverett sells the land in 1870s. For further clarification, the reader needs to know Henry Lagrone is Liverett's father-in-law. > > Thank you for considering my request. > Charlotte Tucker > ================= > "This indenture made and entered into this 7th day of May AD 1842 between Henry Legrone debtor of the first part & Chesley Liverett trustee of the second part and James Harrell Boothe and E. A. & F. A. Wyatt and John Lagrone, Sr., creditors of the third part witnesseth that whereas the said Henry Lagrone is indebted to the said James Harrell in the sum of three hundred and fifty dollars now due to Boothe in the sum of two hundered and forty dollars due 1st day of Jany last to M. A. & J. H. Wyatt about seventy five dollars due the 1st day of Jany and and John Lagrone, Senior in the sum of two hundred dollars due 1st day of Jany 1841 which said debt the said Henry Lagrone is willing desirous to secure. Now this indenture further witnesseth that for an in consideration of the premises and the further consideration of one dollar to me in hand paid by the said Chesley Liverett hath granted bargained and sold and by these present do grant bargain and sell & convey unto the said C! > hesley Leverett and to his heirs and assigns forever all that tract or parcel of land on which he the said Henry Lagrone now resides in the County of Perry and state of Alabama containing one hundred and sixty acres ... " > > > Lagrone to Liverett > > May 7, 1842 > > DEED RECORD F: 273,274 > > Marion, Perry County, Alabama. > > > > > > ==== ALPERRY Mailing List ==== > This is a historical and genealogical discussion list, please feel free to use it to share your information. List Manager, Lloyd Heard at [email protected] > > ============================== > To join Ancestry.com and access our 1.2 billion online genealogy records, go to: > http://www.ancestry.com/rd/redir.asp?targetid=571&sourceid=1237 >