Deed Of Trust Flashcards
1
Q
Assignment or rents
A
Establishes the lender’s right to take possession and collect rents in the event of loan default
2
Q
Beneficiary
A
One for whose benefit a trust is created; the lender in a deed of a trust arrangement
3
Q
Deed of trust
A
A document that conveys legal title to a neutral third party (a trustee) as security for a debt
4
Q
Naked title
A
Title that lacks the rights and privileges usually associated with ownership
5
Q
Reconveyance or release deed
A
A document used to reconvey title from the trustee back to the property owner once the debt has been paid
6
Q
Trustee
A
One who holds property in trust for another
7
Q
Trustor
A
One who creates a trust; the borrower in a deed of trust arrangement
