Deed of Trust

Archive for November, 2008

Question: Who is the Trustee in a Deed of Trust to Secure Assumption?

The grantor is my sister, she's taking the property. The grantee/beneficiary is her ex. He deeded over his comm prop interest in the the house. Who is the trustee, usually?
BTW, I realize that if I were just reading a Deed of Trust, the trustees name would be on there. I'm drafting the document, however, so I'm wondering, who is it typically? Who plays that role? the beneficiaries attorney?

Answer: A Deed of Trust contains three parties:

The Trustor, which is you, the borrower

The Trustee, which is an entity that holds "bare or legal" title

The Beneficiary, which is the lender