1. Chapter 10: Deed of Trust
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2. Deed of Trust Parties Borrower = Trustor Lender = Lender
Neutral Third Party = Trustee
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3. Comparison of a Mortgage with Deed of Trust
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4. Mortgage vs. Deed of Trust
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5. Mortgage vs. Deed of Trust (continued)
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6. Deed of Trust Document
the purpose of this deed is to provide security for that note. In other words, although this deed grants and conveys title to the trustee, it is understood that the quantity of title the trustee receives is only that which is necessary to protect the note.
this permits the borrower to continue to possess and enjoy the use of the property as long as the promissory note is not in default.
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7. Simplified Reconveyance Request
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8. Simplified Reconveyance
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9. Mortgage, Deed of Trust, & Land Contract
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10. Deed of Trust Advantages
Upon default, Lender can take possession of property & collect rents
Time between default & foreclosure is short
Power of sale provision
Trustee already has title
Usually no statutory redemption
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11. Key Terms Assignment of rents Beneficiary Deed of trust Naked title
Reconveyance or Release Deed
Trustee
Trustor
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