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What (who) is trust deed - definition
WIKIMEDIA DISAMBIGUATION PAGE
Trust Deed; Deed of trust; Deed of Trust; Deed of trust (disambiguation); Trust deed (disambiguation)
trust deed
¦ noun Law a deed of conveyance creating and setting out the conditions of a trust.
trust deed
n. another name for a deed of trust, a form of mortgage used in some states, in which title is transferred to a trustee to protect the lender (beneficiary) until the loan is paid back.
See also: deed of trust
deed of trust
n. a document which pledges real property to secure a loan, used instead of a mortgage in Alaska, Arizona, California, Colorado, Georgia, Idaho, Illinois, Mississippi, Missouri, Montana, North Carolina, Texas, Virginia and West Virginia. The property is deeded by the title holder (trustor) to a trustee (often a title or escrow company) which holds the title in trust for the beneficiary (the lender of the money). When the loan is fully paid, the trustor requests the trustee to return the title by reconveyance. If the loan becomes delinquent the beneficiary can file a notice of default and, if the loan is not brought current, can demand that the trustee begin foreclosure on the property so that the beneficiary may either be paid or obtain title.
See also: foreclosure mortgage reconveyance
Wikipedia
Trust deed
Trust deed or deed of trust may refer to:
- Deed of trust (real estate), as distinguished from the general concept of a deed
- Trust instrument, a legal instrument in common law systems
- Trust Deed (Protected), used in Scottish law
Examples of use of trust deed
1. Other elements that might be problematic involve the wording of the trust deed.
2. This in accordance with the directives of the trust deed, and in keeping with the decision of the bondholders‘ meeting.
3. Two days ago, as Africa stock plunged on the exchage, the bonds‘ trust company Hermetic reported that for the first time, the share price had fallen below the minimum stipulated in the bond trust deed.
4. Piotrkowsky, who had argued that the trust deed signed in 1''6 had been forged, last week admitted that it was real but says he was conned by his good friend Arnon into signing it.
5. "It is not a number we could contemplate paying at this time." Ian Gault, a partner in the pensions practice at lawyer Herbert Smith, said that although Rentokil‘s trust deed might allow the cessation of future benefits without a wind–up, it was more typical for a deed to need an amendment in order to avoid a requirement to wind up.