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deed of trust :: legal definition


Deed of trust - n. a document which pledges real property to secure a loan, used instead of a mortgage in Alaska, Arizona, California, Colorado, Georgia, Idaho, Illinois, Mississippi, Missouri, Montana, North Carolina, Texas, Virginia and West Virginia. The property is deeded by the title holder (trustor) to a trustee (often a title or escrow company) which holds the title in trust for the beneficiary (the lender of the money). When the loan is fully paid, the trustor requests the trustee to return the title by reconveyance. If the loan becomes delinquent the beneficiary can file a notice of default and, if the loan is not brought current, can demand that the trustee begin foreclosure on the property so that the beneficiary may either be paid or obtain title.

See also: foreclosure mortgage reconveyance and Related Law Terms ↓


Related Law Terms

abeyance :: 1) n. when the owner- ship of property has not bee ... 2) legal jargon for "undetermined."
abstract of title :: n. the written report on a title search which show ... e also: chain of title title report
accretion :: n. 1) in real estate, the increase of the actual l ... cted event. See also: probate trust
acknowledgment :: n. the section at the end of a document where a no ... me leases and various other papers.
adverse possession :: n. a means to acquire title to land through obviou ... o: possession prescriptive easement
attachment :: n. the seizing of money or property prior to getti ... bond. See also: writ of attachment
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
beach bum trust provision :: n. a requirement in a trust that a beneficiary can ... live off the trust. See also: trust
breach :: 1) n. literally, a break. A breach may be a failur ... breach of trust breach of warranty
cestui que trust :: n. (properly pronounced ses-tee kay, but lawyers p ... ust's assets. See also: beneficiary
cestui que use :: (pronounced ses-tee kay use or setty kay use) n. a ... beneficiary cestui que trust trust
chain of title :: n. the succession of title ownership to real prope ... title conveyance foreclosure title
charitable remainder trust (Charitable Remainder Irrevocable Unitrust) :: n. a form of trust in which the donor (trustor or ... ed up or committed. See also: trust
closing :: n. the final step in the sale and purchase of real ... company, escrow holder or attorney.
cloud on title (cloud) :: n. an actual or apparent outstanding claim on the ... ion reconveyance title title report
color of title :: n. the appearance of having title to personal or r ... rty based on this "color of title."
commingling :: n. the act of mixing the funds belonging to one pa ... rust accounts for funds of another.
condition precedent :: n. 1) in a contract, an event which must take plac ... o the property. See also: condition
condominium :: n. title to a unit of real property which, in real ... ium projects. See also: common area
constructive trust :: n. when a person has title to property and/or take ... tence. See also: constructive trust
convey :: v. to transfer title (official ownership) to real ... ion conveyance deed grantee grantor
co-trustee :: n. a trustee of a trust when there is more than on ... act alone. See also: trust trustee
covenant :: 1) n. a promise in a written contract or a deed of ... o compete deed restrictive covenant
declaration of trust :: n. the document signed by a trustor (settlor) crea ... also: settlor trust trustee trustor
dedication :: n. the giving of land by a private person or entit ... perty. See also: quiet title action
deed :: 1) n. the written document which transfers title ( ... veyance deed of trust warranty deed
defect :: n. an imperfection, quite often so great that the ... See also: defective defective title
defective title :: n. an apparent title to real property which fails ... so: chain of title defect defective
devisee :: n. a person who receives a gift of real property b ... will. See also: beneficiary legatee
easement :: n. the right to use the real property of another f ... rstandings at the time of creation.
eminent domain :: n. the power of a governmental entity (federal, st ... ngs. See also: condemn condemnation
escrow :: 1) n. a form of account held by an "escrow agent" ... w the deal." See also: escrow agent
fee tail :: n. an old feudal expression for a title to real pr ... rest only. See also: fee fee simple
fiduciary :: 1) n. from the Latin fiducia, meaning "trust," a p ... lation fiduciary relationship trust
foreclosure :: n. the system by which a party who has loaned mone ... ced sale mortgage notice of default
foreclosure sale :: n. the actual forced sale of real property at a pu ... dicial sale mortgage sheriff's sale
grant :: v. to transfer real property from a title holder ( ... deed grantee grantor quitclaim deed
grant deed :: n. the document which transfers title to real prop ... rant grantee grantor quitclaim deed
grantor-grantee index :: n. a set of books and/or computerized lists found ... ument in tracking a chain of title.
in kind :: adj. referring to payment, distribution or substit ... . See also: distribution trust will
in lieu :: prep. instead. "In lieu taxes" are use taxes paid ... go through the foreclosure process.
inter vivos trust :: n. a trust created by a writing (declaration of tr ... nter vivos testamentary trust trust
interest :: n. 1) any and all, partial or total right to prope ... nal property real property standing
joint tenancy :: n. a crucial relationship in the ownership of real ... ty property tenancy in common title
judicial foreclosure :: n. a judgment by a court in favor of foreclosure o ... deed of trust foreclosure mortgage
just compensation :: n. 1) in general a fair and reasonable amount of m ... ation make one whole quantum meruit
laches :: n. the legal doctrine that a legal right or claim ... , breach of contract, fraud, etc.).
land :: n. real property, real estate (and all that grows ... See also: real estate real property
lapse :: 1) v. to fail to occur, particularly a gift made i ... eficiary devisee legatee trust will
legacy :: n. a gift of personal property or money to a benef ... o: beneficiary bequest legatee will
legatee :: n. a person or organization receiving a gift of an ... eficiary devise devisee legacy will
levy :: 1) v. to seize (take) property upon a writ of exec ... heriff's sale tax writ of execution
lien :: n. any official claim or charge against property o ... ord's lien mechanic's lien mortgage
life estate :: n. the right to use or occupy real property for on ... hter, Sadie, will own the property.
lis pendens :: (lease pen-dense) n. Latin for "a suit pending," a ... ob can be penalized by court order.
literary property :: n. the writings of an author which entitles him/he ... as copyrighted. See also: copyright
living trust :: n. sometimes called an inter vivos (Latin for "wit ... thrift clause trust trustee trustor
marital deduction :: n. an estate tax deduction allowed a surviving spo ... community property estate tax trust
marketable title :: n. the title to real property which has no encumbr ... e. See also: contract real property
merger :: n. 1) in corporate law, the joining together of tw ... and taking one, and wife the other.
mortgage :: n. a document in which the owner pledges his/her/i ... losure notice of default trust deed
muniment of title :: n. documentary evidence of title to real property. ... also: deed quiet title action title
no fault insurance :: n: a type of automobile insurance required of car ... ling lawsuits. See also: negligence
nominal party :: n. a defendant or a plaintiff included in a lawsui ... ed. See also: necessary party party
non-discretionary trust :: n. a trust in which the trustee is directed to inv ... ower in the matter. See also: trust
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
operation of law :: n. a change or transfer which occurs automatically ... atically upon the child turning 18.
option :: n. a right to purchase property or require another ... ng or upon expiration of the lease.
pawn :: v. to pledge an item of personal property as secur ... nsed by the state. See also: pledge
pledge :: v. to deposit personal property as security for a ... ise to do something. See also: pawn
possibility of a reverter :: n. the potential that the title to a real property ... further issue. See also: reversion
pour over will :: n. a will of a person who has already executed a t ... invalid trust. See also: trust will
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
protest :: 1) v. to complain in some public way about any act ... dishonored (not paid by the bank).
quiet title action :: n. a lawsuit to establish a party's title to real ... opposition. See also: notice title
quitclaim deed :: n. a real property deed which transfers (conveys) ... also: convey deed grant deed title
race to the courthouse :: n. slang for the rule that the first deed, deed of ... e also: deed judgment lien mortgage
real estate investment trust :: n. nicknamed REIT, a real estate investment organi ... its upon sale-if there is a profit.
reconveyance :: n. in those states which use deeds of trust as a m ... conveyance. See also: deed of trust
record :: 1) v. (ree-cored) to put a document into the offic ... eeding race to the courthouse trial
redeem :: v. to buy back, as when an owner who had mortgaged ... so: foreclosure mortgage redemption
remainder :: n. in real property law, the interest in real prop ... ed reversion title vested remainder
restraint on alienation :: n. an attempt in a deed or will to prevent the sal ... enant rule against perpetuities use
restrictive covenant :: n. 1) an agreement included in a deed to real prop ... o: covenant that runs with the land
resulting trust :: n. a trust implied by law (as determined by a cour ... See also: constructive trust trust
rule against perpetuities :: n. the legal prohibition against tying up property ... . See also: restraint on alienation
settlor :: n. the person who creates a trust by a written tru ... the trust. See also: trust trustor
spendthrift clause :: n. a provision in a trust or will that states that ... tly to Junior. See also: trust will
statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll
subject to :: adj. referring to the acquisition of title to real ... : assumption deed of trust mortgage
subordination :: n. allowing a debt or claim which has priority to ... . See also: subordination agreement
tenancy by the entirety :: n. joint ownership of title by husband and wife, i ... ee also: community property tenancy
title :: n. 1) ownership of real property or personal prope ... ink slip real property title search
title insurance :: n. a policy issued by an insurance company guarant ... : chain of title title title search
title report :: n. the written analysis of the status of title to ... lso: abstract title title insurance
title search :: n. the examination of county records for the prope ... e escrow lien title title insurance
trust :: n. an entity created to hold assets for the benefi ... testamentary trust trustee trustor
trust deed :: n. another name for a deed of trust, a form of mor ... paid back. See also: deed of trust
trustee :: n. a person or entity who holds the assets (corpus ... es. See also: settlor trust trustor
trustor :: n. the creator of a trust (who normally places the ... ern states. See also: settlor trust
use :: n. the right to enjoy the benefits of real propert ... ay it is only of academic interest.
variance :: n. 1) an exception to a zoning ordinance, authoriz ... process." See also: dismissal proof

Popular Law Searches

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testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - D

D.A. :: n. slang for District Attorney. ... n. slang for District Attorney.
d.b.a. :: n. short for "doing business as," when a person or ... that is registered with the state.
D.U.I. :: n. short for driving under the influence of alcoho ... ing under the influence of alcohol.
D.W.I. :: n. 1) short for driving while intoxicated. 2) abbr ... for dying without issue (children).
damages :: n. the amount of money which a plaintiff (the pers ... liquidated damages special damages
dangerous :: adj. unsafe, hazardous, fraught with risk. It can ... eapon's range. See also: negligence
dangerous weapon :: n. any gun, knife, sword, crossbow, slingshot or o ... igence and possibly win a judgment.
date rape :: n. forcible sexual intercourse by a male acquainta ... physical resistance. See also: rape
day in court :: n. popular term for everyone's opportunity to brin ... rt to protest his speeding ticket."
de facto :: adj. Latin for "in fact." Often used in place of " ... ave not been met. See also: de jure
de facto corporation :: n. a company which operates as if it were a corpor ... also: de facto de jure ultra vires
de jure :: adj. Latin for "lawful," as distinguished from de ... also: de facto de jure corporation
de jure corporation :: n. a corporation in good standing under the law, a ... also: de facto corporation de jure
de minimis :: adj. (dee-minnie-miss) Latin for "of minimum impor ... deal, a $10 mistake is de minimis.
de novo :: adj. Latin for "anew," which means starting over, ... n, de novo. See also: trial de novo
deadly weapon :: n. any weapon which can kill. This includes not on ... See also: assault dangerous weapon
dealer :: n. anyone who buys goods or property for the purpo ... ins taxes by buying other property.
death penalty :: n. the sentence of execution for murder and some o ... rder and some other capital crimes.
death row :: n. nickname for that portion of a prison in which ... o: capital punishment death penalty
debenture :: n. a form of bond certificate issued by a corporat ... n shares of stock or general bonds.