Finance
In West Virginia, a 'deed of trust' used in mortgage lending differs from a standard mortgage in that:
AA deed of trust requires court action (judicial foreclosure) to enforce
BA deed of trust involves three parties and allows non-judicial foreclosure✓ Correct
CA deed of trust is only used for commercial properties
DA deed of trust does not require recording
Explanation
A deed of trust in West Virginia involves three parties: the borrower (trustor), the lender (beneficiary), and a neutral trustee. Upon default, the trustee can conduct a non-judicial foreclosure sale without court action, making the process faster than a traditional mortgage foreclosure.
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