Finance
A deed of trust in California differs from a mortgage primarily because:
AA deed of trust has lower interest rates
BA deed of trust involves three parties and allows non-judicial foreclosure✓ Correct
CA mortgage cannot be used for residential property
DA deed of trust requires court approval to create
Explanation
A deed of trust involves three parties: trustor (borrower), trustee (neutral third party), and beneficiary (lender). The key advantage is non-judicial foreclosure (trustee's sale) which is faster than judicial foreclosure required for mortgages.
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