Escrow & Title
In Oregon, a deed of trust involves three parties. Who are they?
ABuyer, seller, and escrow agent
BTrustor (borrower), trustee, and beneficiary (lender)✓ Correct
CGrantor, grantee, and title company
DLender, borrower, and the Oregon Real Estate Agency
Explanation
A deed of trust involves: the trustor (borrower who conveys title to the trustee), the trustee (neutral third party who holds title as security), and the beneficiary (lender who receives the benefit of the security). The trustee holds naked legal title until the loan is paid off.
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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.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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