Property Ownership
In Mississippi, a 'deed of trust' differs from a 'mortgage' primarily because a deed of trust:
AInvolves only two parties (borrower and lender)
BInvolves three parties (trustor/borrower, beneficiary/lender, and trustee) and allows non-judicial foreclosure✓ Correct
CCannot be used for residential real estate
DDoes not secure a debt
Explanation
A deed of trust involves three parties—trustor (borrower), beneficiary (lender), and trustee (neutral third party). The trustee holds legal title and has the power of sale, enabling non-judicial foreclosure, which is the primary reason Mississippi uses deeds of trust instead of mortgages.
Related Mississippi Property Ownership Questions
- Mississippi law recognizes 'tenancy by the entirety' as a form of co-ownership available exclusively to:
- A Mississippi partnership acquires investment real property. All partners' interests in the property are governed by:
- A Mississippi property is subject to a 'conservation easement' held by a land trust. The landowner retains ownership but has agreed to restrictions on development. Conservation easements are typically:
- In Mississippi, when two owners hold property as 'tenants in common' and one owner dies, that owner's interest:
- In Mississippi, the 'doctrine of merger' in real estate means that upon closing:
- In Mississippi, a 'reversionary interest' in real property refers to:
- In Mississippi, which of the following is required for a deed to be valid between grantor and grantee (as opposed to enforceable against third parties)?
- Mississippi mineral rights can be 'severed' from surface rights. When mineral rights are severed, the surface owner:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →