Finance
A Wisconsin deed of trust would involve three parties: the borrower (trustor), the lender (beneficiary), and a:
ATitle company as mortgagee
BNeutral third party (trustee) who holds legal title✓ Correct
CGovernment agency
DCo-signer
Explanation
A deed of trust involves three parties: the borrower (trustor) who conveys title, the lender (beneficiary) who receives the loan repayment, and a trustee who holds legal title until the loan is paid. Note: Wisconsin primarily uses mortgages, not deeds of trust.
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Key Terms to Know
Deed of Trust
A security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
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