Finance
In Virginia, a deed of trust is used instead of a mortgage primarily because it:
AProvides more protection to the borrower
BAllows for non-judicial (trustee's) foreclosure, which is faster✓ Correct
CEliminates the need for title insurance
DIs required by Virginia law for all residential transactions
Explanation
Virginia uses a deed of trust (with three parties: borrower/trustor, lender/beneficiary, and neutral trustee) because it permits non-judicial foreclosure by the trustee, which is typically faster than judicial foreclosure through the courts.
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