deed of trust


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Deed of trust

Indenture

A contract for a bond. An indenture sets the terms of the bond; for example, it includes the coupon rate, the period until maturity, and whether the bond comes with any special features like convertibility or whether it is callable. All bonds must have an indenture. Indentures are usually summarized in a bond's prospectus.

Trust Deed

1. In real estate, an agreement in which the title to the property is held in a trust until the mortgage is paid. A trust deed is not given to the homeowner in order to provide an extra amount of security for the lender; the trustee for a trust deed does nothing except in the event of default, in which case the trustee sells the real estate.

2. An agreement stating the terms of a trust. A trust deed is most common when mutual funds are held in trust, and outlines the responsibilities and restrictions on the fund.

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.

References in periodicals archive ?
(84) One such argument, based on the Federal Foreclosure Bar, was that a first mortgage or first deed of trust could not be extinguished by an association's foreclosure without the Agency's consent.
Ocwen Loan Servicing, L.L.C., MERS's involvement in the loan effectively led to the stripping of a deed of trust lien from the land.
The number of days students attended darulhuffaz were determined by the deed of trust of darulhuffaz.
Push for a deed of trust instead of a land contract.
The deed of trust incorporates Housing and Urban Development regulations.
Fountainhead provided the $3,390,429 1st deed of trust, allowing the borrower to acquire this hotel with attractive, long-term fixed interest rate financing at approximately 50% loan-to-value.
When MERS appears in uniform security instruments, MERS is formally designated as the mortgagee (or "grantee" or "beneficiary," depending on whether state law recognizes a mortgage, security deed or deed of trust as the security instrument), as nominee for the original lender and the lender's successors and assigns.
A deed of trust was assigned to Interquake Properties of Bellevue in June 2011.
(2) The security instrument may be a mortgage, a deed of trust, or (in Georgia) a security deed.
At the time the easement was granted, the deed of trust securing the debt to Sheek was not subordinated to the easement.
However, if the girlfriend wanted some of her equity from the house to go elsewhere, this would have to be specified in a Deed of Trust when buying the house.