In a deed of trust, who is the borrower referred to as the trustor?

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Study for the Burk Baker National Test. Use flashcards and multiple choice questions with hints and explanations to prepare effectively. Get ready for your exam!

Multiple Choice

In a deed of trust, who is the borrower referred to as the trustor?

In a deed of trust, the trustor is the borrower who creates the trust by signing the deed of trust and the promissory note. The borrower transfers legal title to a trustee to hold on behalf of the lender (the beneficiary) until the loan is repaid. The trustee simply holds the title as security, and the lender is the beneficiary with the right to foreclose if the loan defaults. The title company may appear in the closing process, but it is not a party to the trust arrangement.

In a deed of trust, who is the borrower referred to as the trustor?

Study for the Burk Baker National Test. Use flashcards and multiple choice questions with hints and explanations to prepare effectively. Get ready for your exam!

In a deed of trust, who is the borrower referred to as the trustor?

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