© 2010 by Cengage Learning Deed of Trust Chapter 10 ________________ Deed of Trust

© 2010 by Cengage Learning  Borrower = Trustor  Lender = Lender  Neutral Third Party = Trustee

© 2010 by Cengage Learning Mortgage vs. Deed of Trust

© 2010 by Cengage Learning Mortgage vs. Deed of Trust (continued)

© 2010 by Cengage Learning

 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

© 2010 by Cengage Learning Mortgage, Deed of Trust, & Land Contract

© 2010 by Cengage Learning  Assignment of rents  Beneficiary  Deed of trust  Naked title  Reconveyance  Trustee  Trustor Key Terms