Escrow & Title
A deed of trust in Missouri is executed by which parties?
AMortgagor and mortgagee only
BTrustor (borrower), trustee, and beneficiary (lender)✓ Correct
CBuyer and seller only
DGrantor and grantee only
Explanation
A deed of trust involves three parties: the trustor (borrower who conveys title), the trustee (neutral third party who holds title), and the beneficiary (lender whose loan is secured).
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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.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
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