Property Ownership
In Tennessee, a property subject to a 'deed of trust' is held with three parties: the trustor, the trustee, and the beneficiary. In a standard mortgage transaction, who typically serves as the trustee?
AThe borrower (trustor)
BA neutral third party such as a title company or attorney✓ Correct
CThe lender (beneficiary)
DA government agency
Explanation
In a Tennessee deed of trust, a neutral third party (typically a title company, attorney, or designated trustee) holds legal title on behalf of the lender until the loan is repaid.
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