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deed of trust |
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Deed of trust See: Indenture deed of trust A security instrument used to grant rights in real property to a lender. It is used in some states; other states use mortgages to accomplish the same goal.With a deed of trust, title to the property is transferred to a trustee,who holds it in trust for the borrower's benefit until such time as the loan has been paid in full. At that time, the trustee will transfer legal title back to the borrower by way of a deed of reconveyance.If there is a default and foreclosure,it is the trustee who conveys the property to another. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Under the plan, the city and S & Y Capital Group, a subsidiary of the underwriter of the Trade and Commerce Center bonds, would jointly pay $1 million to a partnership called the Antelope Valley Project, holder of a promissory note secured by a deed of trust on the site. 6 million National Golf common shares and NGOP partnership units to Bank of America and American Golf noteholders, and granted a second deed of trust on a property that the company didn't identify. The purchasers of each unit made a down payment, signed a promissory note for the balance of the purchase price, and gave H and W a deed of trust to secure the note. |
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