What is the benefit of a deed of trust for a seller?
For the seller, the trust deed allows the seller to have more freedom where it comes to financing. A seller can either offer their own financing, or seek financing from third parties.
What states use deed of trust instead of mortgage?
The deed of trust is currently used in Alabama, Alaska, Arkansas, Arizona, California, Colorado, District of Columbia, Georgia, Hawaii, Idaho, Iowa, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, North Carolina, Oklahoma, Oregon, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia, ...
What is the benefit of a deed of trust?
The deed of trust involves a trustor, a beneficiary and a trustee. The idea of the trust is that it sets up recourse for the lender so that under conditions defined in the trust they can have the property sold by the trustee, take it back or compel accelerated payment of the loan in order to protect their investment.