Escrow & Title
In Kansas, what is a 'deed of trust' and how does it differ from a mortgage?
AThey are identical instruments
BA deed of trust involves three parties (borrower, trustee, lender) and allows non-judicial foreclosure; a mortgage involves two parties and requires judicial foreclosure in Kansas✓ Correct
CA deed of trust is only used for commercial property
DA mortgage gives the lender title; a deed of trust gives the borrower title
Explanation
Kansas primarily uses mortgages (two-party instruments requiring judicial foreclosure). Some states use deeds of trust (three-party) allowing non-judicial foreclosure.
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