Escrow & Title
In Oregon, a 'deed of trust' involves which three parties?
ABuyer, seller, and the county
BTrustor (borrower), beneficiary (lender), and trustee (neutral third party)✓ Correct
CTitle company, escrow officer, and the MLS
DOREA, the lender, and the appraiser
Explanation
Oregon's primary security instrument is the deed of trust, involving three parties: the trustor (borrower who conveys title to the trustee), the beneficiary (lender who is owed the debt), and the trustee (a neutral third party, often a title company, who holds title in trust and can initiate foreclosure if the borrower defaults).
Related Oregon Escrow & Title Questions
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- What is 'FIRPTA' withholding and when does it apply in Oregon real estate transactions?
- What is a 'deed of reconveyance' in Oregon's deed of trust system?
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