RE Finance chapter 6
How many parties are included in a deed of trust...?
4
One who holds property in trust for another to secure the performance of an obligation. Third party under a deed of trust.
Trustee
the lender on the security of a note and deed of trust.
beneficiary
A right or interest in a property that is used by someone other than the owner.
encumbrance
A lien on all the property of a debtor is known as a...?
general lien
A lien on all the property of a debtor.
general lien
According to lien theory, the lender retains equitable rights to the property, while the borrower retains...?
legal rights
A freehold estate created for the duration of the life or lives of certain named persons; a non-inheritable estate.
life estate
A lien that attaches to one specific property only is known as a...?
specific lien
A mortgage lien is an example of a...?
specific lien
One who borrows money from a trust deed lender, then deeds the real property securing the loan to a trustee to be held as security until trustor has performed the obligation to the lender under terms of a deed of trust.
Trustor
