Escrow & Title
In Hawaii, a deed of trust differs from a mortgage because:
AA. A deed of trust involves three parties: borrower, trustee, and lender (beneficiary)✓ Correct
BB. A mortgage requires a longer notice period before foreclosure
CC. A deed of trust can only be used for commercial properties
DD. There is no difference between them in Hawaii
Explanation
A deed of trust involves three parties: the borrower (trustor), a neutral trustee, and the lender (beneficiary). A mortgage involves only two parties: borrower and lender.
Related Hawaii Escrow & Title Questions
- What is a 'mechanic's lien' and when might it arise in a Hawaii real estate transaction?
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- In Hawaii, which of the following is a voluntary lien?
- The Bureau of Conveyances in Hawaii serves what function?
- In Hawaii, who prepares the deed transferring title at closing?
- In Hawaii, what is a 'partial release' in a mortgage context?
- In Hawaii, the 'recording' of a deed is important because:
- In Hawaii, who typically pays for the owner's title insurance policy?
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