Finance
In Tennessee, a deed of trust that is not paid off at closing must be:
ATransferred to the buyer as part of the purchase
BReleased or satisfied of record at or before closing for the buyer to receive clear title✓ Correct
CSubordinated to the new buyer's mortgage
DLeft in place for 90 days before the lender must release it
Explanation
Any existing deeds of trust or mortgages that have not been paid off must be released of record at or prior to closing. The seller must arrange payoff from closing proceeds and the lender must record a release (deed of release/satisfaction) to clear title.
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