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When purchasing a home, there are a number of very important legal documents involved. Two such documents that you may encounter are a warranty deed and a deed of trust. A financial advisor could ...
A warranty deed is a type of deed where the grantor (seller) guarantees that they hold clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that they hold title to a piece of real estate.
A deed of trust refers to a type of legal instrument which is used to create a security interest in real property and real estate.In a deed of trust, a person who wishes to borrow money conveys legal title in real property to a trustee, who holds the property as security for a loan from the lender to the borrower.
The trustee must also keep adequate records of the administration of the trust generally. [66] All trust property must stay separate from the trustee's own personal property and must not be "commingled." [67] A trustee can hold certain securities, usually publicly traded ones, in a "street name" or nominee registration for ease of management. [68]
A warranty deed is one of the more important documents you may encounter during the process. Warranty deeds are used to verify that there are no obstacles, such …
A deed of trust is a legal agreement used in a real estate transaction in which a third party — the trustee — holds the title to the property until the borrower repays the mortgage in full. A ...
The trustee is the legal owner of the assets held in trust on behalf of the trust and its beneficiaries. The beneficiaries are equitable owners of the trust property. Trustees have a fiduciary duty to manage the trust for the benefit of the equitable owners. Trustees must provide regular accountings of trust income and expenditures.
Trusts are a useful tool for financial and estate planning, allowing a family to set assets aside to be passed on when someone dies. They can also help your family potentially avoid the headaches ...
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