What can you tell me about a trustee's deed?

Answer by  patti (29325)

When there is a trustee sale due to foreclosure, the trustee deed transfer the ownership of the property by the lender to the buyer.

Answer by  mv (12)

A trustees deed or deed of trust is a mortgage that creates an encumbrance on real property to secure repayment of a loan. If the borrower breaches the loan agreement, the lender may foreclose on its lien and the property will be auctioned and sold at a non judicial trustee's sale.

Answer by  krpmuffitt (223)

A trustee deed is used when the property is held in a trust. It conveys whatever interest the trust has in the property as opposed to a warranty deed that carries certain representations about the ownership

Answer by  mammakat (11147)

This is a deed to be executed on the behalf of another party, often in the case of a bankruptcy, used to sell real property of the debtor and must describe all particulars of the sale.

Answer by  cynosure (376)

A trustee's deed allows for the transfer of real property (land, house, building etc) from a trustee (one who holds property in trust for another) to a third party purchaser.

Answer by  jeroboam (185)

A trustee holds legal title to property but is personally bound by the terms of the trust instrument to act for the benefit of beneficiaries. A trustee's deed is generally as effective to convey land as any other deed, but a wise buyer will determine before buying land from a trustee whether the trust instrument gives the trustee sale powers.