Escrow & Title
What is a deed of trust and how does it differ from a mortgage?
AThey are identical instruments
BA deed of trust involves three parties (trustor, trustee, beneficiary); a mortgage involves two parties✓ Correct
CA deed of trust is only used for commercial properties
DA mortgage requires a trustee
Explanation
A deed of trust involves three parties: the borrower (trustor), a neutral third party (trustee) who holds title, and the lender (beneficiary). A mortgage involves two parties: borrower and lender. Ohio primarily uses mortgages.
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