Finance
What is the primary difference between a mortgage and a deed of trust in Nevada?
AA mortgage involves three parties; a deed of trust involves two
BA deed of trust involves three parties (trustor, trustee, beneficiary); a mortgage involves two✓ Correct
CA mortgage allows non-judicial foreclosure; a deed of trust requires court action
DThere is no practical difference in Nevada
Explanation
A deed of trust involves three parties: the trustor (borrower), trustee (neutral third party holding title), and beneficiary (lender). A mortgage involves only two parties: mortgagor (borrower) and mortgagee (lender). Nevada primarily uses deeds of trust.
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