that is, foreclosure without going to court. An ordinary mortgage deed documents a transaction between two parties, a lender and a borrower. A trustee deed is an arrangement between three parties: the borrower
the trustee under a trustee deed may foreclose on the property by power of sale and pay the lender with the proceeds. A power-of-sale foreclosure allows the trustee to sell the property without first getting a court order, which
Thetrustor, or person who creates the trust, should specify the fees in the terms of trust agreement. However, it’s possible that the trustor forgets to designate the fee, or they indicate that the trustee should receive “reasonable compensation.” In this case, the court can step in to...
Grantor: The entity whose assets are held in trust until payment of the loan occurs. A grantor is also known as a settlor or trustor. The grantor remains the equitable owner as long they keep up their loan payments in the specific manner outlined by the deed of trust. Even though they d...