Under the deed of trust,a third party who holds the full ownership to a land is called a ______.
A) bailor
B) bailee
C) trustee
D) debtor
E) mortgagee

Question

Quizplus · Accepted Answer

Under the deed of trust, a borrower signs a note, which shows the borrower's debt to the lender, and then signs a deed of trust, which grants the lender a security interest in the building and land put up to secure the loan. The deed is held by a third party, called a trustee, who holds full legal ownership to the land. Under this arrangement the debtor will obtain legal ownership, or title, only when the deed has been repaid.

Under the Deed of Trust,a Third Party Who Holds the Full