Escrow & Title
A Missouri deed of trust differs from a mortgage in that a deed of trust involves:
AOnly two parties: borrower and lender
BThree parties: borrower (trustor), lender (beneficiary), and a neutral trustee✓ Correct
CThe government as a guarantor
DNo interest charges on the loan
Explanation
A deed of trust involves three parties: the trustor (borrower) conveys title to a trustee who holds it on behalf of the beneficiary (lender) as security for the loan. Missouri primarily uses deeds of trust rather than traditional mortgages.
Related Missouri Escrow & Title Questions
- In Missouri, a deed must include which of the following to be valid?
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- Under Missouri's recording acts, an unrecorded deed is valid between the parties but:
- When a Missouri mortgage is fully paid off, the lender must provide the borrower with a:
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- In Missouri, a 'certificate of title' differs from title insurance because:
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