Escrow & Title
What is a 'deed of trust with power of sale' in Hawaii and what does it enable?
AA. It requires the borrower to deed the property to the lender as security for the loan
BB. A security instrument giving the trustee the power to sell the property through non-judicial foreclosure if the borrower defaults, without going through court✓ Correct
CC. A deed held in trust until the purchase price is fully paid
DD. A power of attorney allowing the agent to sign deeds on behalf of the seller
Explanation
A deed of trust with power of sale is a three-party security instrument (borrower/trustor, trustee, lender/beneficiary). If the borrower defaults, the trustee may sell the property under the power of sale without court proceedings.
Related Hawaii Escrow & Title Questions
- In Hawaii, what is a 'satisfaction of mortgage' or 'full reconveyance'?
- What is 'gap insurance' in the context of Hawaii vehicle loans compared to Hawaii real estate title insurance?
- In Hawaii, a 'warranty deed' vs. a 'grant deed' are both deeds that:
- In Hawaii, the 'title search period' in escrow is used to:
- In Hawaii, an 'easement by express grant' is created when:
- What does 'RESPA's Section 8' prohibit and why does it matter in Hawaii real estate?
- What are 'closing costs' for a Hawaii buyer and what are typical components?
- In Hawaii, what does 'proration' of property taxes at closing mean for a buyer?
Practice More Hawaii Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Hawaii Quiz →