Escrow & Title (alternative)
A Maryland property owner who grants a deed of trust to secure a mortgage gives legal title to:
AThe lender directly
BA neutral third-party trustee✓ Correct
CThe title insurance company
DThe county circuit court (alternative)
Explanation
In a deed of trust, the borrower (trustor) conveys legal title to a neutral third-party trustee to hold as security for the lender (beneficiary) until the loan is repaid.
Related Maryland Escrow & Title (alternative) Questions
- Maryland's seller's disclosure law exempts which type of transaction from the disclosure requirement?
- A Maryland deed must include an adequate property description to be valid. Which of the following is an adequate legal description?
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