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Transactions involving deeds of trust are normally structured, at least in theory, so that the lender/beneficiary gives the borrower/trustor the money to buy the property; the borrower/trustor tenders the money to the seller; the seller executes a grant deed giving the property to the borrower/trustor; and the borrower/trustor immediately executes a deed of trust giving the property to the ...
The names of these offices are usually the "Recorder of Deeds" or something similar. State statutes also prescribe the following elements: What instruments are entitled to be recorded, usually deeds, mortgages (whether or not in the form of deeds of trust), leases (usually longer term varieties), easements, and court orders. There is generally ...
Foreclosure by power of sale, also called nonjudicial foreclosure, and is authorized by many states if a power of sale clause is included in the mortgage or if a deed of trust with such a clause was used, instead of an actual mortgage. In some US states, like California and Texas, nearly all so-called mortgages are actually deeds of trust. This ...
A certificate of trust is a brief summary of a trust that is being used for estate planning. Financial institutions such as various types of banks or brokerages require certificates of trust to ...
In trust law, a trust instrument (also sometimes called a deed of trust, where executed by way of deed) is an instrument in writing executed by a settlor used to constitute a trust. Trust instruments are generally only used in relation to an inter vivos trust ; testamentary trusts are usually created under a will .
In some jurisdictions, a deed of trust is used as an alternative to a mortgage. [9] A deed of trust is not used to transfer property directly. It is commonly used in some states — California, for example — to transfer title to land to a “trustee”, usually a trust or title company, which holds the title as security ("in escrow") for a ...
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Trust deed or deed of trust may refer to: Deed of trust (real estate), as distinguished from the general concept of a deed; Trust instrument, a legal instrument in ...