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Question
a. accepted form k. no statutory redemption
b. assignment of rents l. power of sale
c. automatic form m. public trustee
d. bare title n. reconveyance deed
e. beneficiary o. release deed
f. deed of trust p. request for reconveyance
g. default q. trust
h. foreclosure r. trustee
i. junior claims s. trustee's deed
j. naked title t. trustor
1> a document that conveys legal title to a neutral third party as security for a debt
2> one who creates a trust; the borrower under a deed of trust
3> the lender
4> one who holds property in trust for another
5> transfers title from the trustee to the trustor
6> a publicly appointed official who acts as a trustee in some states
7> the trustee is named in the deed of trust but not personally notified of the appointment
8> title in a legal sense only and without the usual rights of ownership
9> the beneficiary's request to the trustee to deed the secured property to the trustor
10> a clause in a deed of trust that gives the trustee the right to conduct a foreclosure sale without first going to court
11> the lender's right to take possession and collect rents in the event of loan default
12> conveys to the purchaser at foreclosure the right, title, and interest held by the trustee
13> title that the borrower grants to the trustee; also known as naked title.
14> any claim behind a first lien
15> the trustee is notified in advance and either accepts or rejects the appointment
16> what the trustee issues to the borrower; also known as a reconveyance deed
17> violation of any of the terms of the deed of trust
18> the process of selling the mortgaged property allowed under the deed of trust
19> usually not allowed once the foreclosure sale takes place
20> a three party arrangement involving a trustor, trustee, and beneficiary
Answer
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