Deed of Trust - William J. Purvis

A Deed of Trust is basically a mortgage that requires the borrower to use his land as collateral for the loan.

A Deed is used to legally transfer property (most likely land) to another party.

Deeds of Trust or Trust Deeds are used in 20 states and the District of Columbia. North Carolina is one of the states that use the Deed of Trust as surety for a debt.

Trust Deeds are recorded at the Courthouse in the Register of Deeds Office just as land deeds are recorded.

This is a transcription of a Trust Deed between my Great Grandfather William James Purvis and The Singer Manufacturing Company.

Deed of Trust

9 July 1882

Volume 14, Page 174
Anson County, NC
Film # 1689066

W. J. PURVIS to The Singer Manufacturing Co.

State of North Carolina}
Anson County} The undersigned is indebted to the Singer Manufacturing Company in the sum of thirty-five Dollars by note due first day of November 1882 and to secure the payment of the same hereby conveys to the Singer Manufacturing Company the following articles of personal property to wit: one plain singer Sewing Machine No. 3466982 and all the cotton to be raised during the year 1881 on the farm upon which the undersigned resides in Morven Township of Anson county adjoining the lands of Jno. McGugan and others subject only to such liens as have already attached the same. But on this special trust that if the undersigned shall deliver to the Singer Manufacturing Company one Bale Middling Cotton weighing 500 pounds on or before the first of November 1882 and pay the said company $10 then this mortgage to be void; but if said cotton is not delivered and $10 paid as aforesaid, and the debt and interest is not paid on or before maturity the Singer Manufacturing Company may sell said property or so much thereof as may be necessary by public auction for cash, first giving twenty days' notice at three public places and apply the proceeds of such sale to the discharge of said debt with eight per cent interest thereon and costs of sale and the surplus pay over to the order of the undersigned. Signed and sealed this 9 day of July 1882.

W. J. Purvis seal

Witness:
R. G. Church
J. A. Atkinson

State of North Carolina}
Anson County} The execution of the within instrument was this day proven before me by the oath and examination of J. A. Atkinson the subscribing witness thereto. Let the same with this certificate be registered. This the 10th day of February 1882.

John C. McLanchlin
CSC

State of North Carolina}
Anson County} February 10th 1882. Then the foregoing mortgage and certificate was registered in the Register's office of Anson County.

P. J. Coppedge, Register of Deeds

I have Trust Deeds executed by my Great Grandfather and Great Great Grandfather for many of the years between 1860-1887. They were primarily used to obtain seed and fertilizer in order to establish a crop for the year. Most were issued at a seven or eight percent interest per year.