A three-party security instrument conveying title to land as security for the performance of an obligation. The three parties are the Trustor (borrower), Trustee (acts only at time of payoff and in case of foreclosure), and Beneficiary (lender).
A three-party security instrument conveying title to land as security for the performance of an obligation. The three parties are the Trustor (borrower), Trustee (acts only at time of payoff and in case of foreclosure), and Beneficiary (lender).