Escrow & Title
When a Vermont property transfers by a 'trustee's deed,' the property is being transferred by:
AA county trustee appointed by the court
BA trustee of a trust who has authority to convey trust property✓ Correct
CThe Vermont Agency of Commerce
DThe Vermont Housing and Conservation Board
Explanation
A trustee's deed is used to convey real property held in a trust. The trustee — acting in their fiduciary capacity on behalf of the trust's beneficiaries — executes the deed.
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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).
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
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