Escrow & Title
In Maine, when a property is sold to a trust, the deed should name:
AOnly the beneficiaries of the trust
BThe trustee(s) of the trust in their capacity as trustee, with the trust name✓ Correct
CThe trust's attorney
DThe settlor of the trust
Explanation
When real property is conveyed to a trust in Maine, the deed names the trustee(s) in their official capacity (e.g.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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