Who is the beneficiary of a trust deed in Oregon?

(2) Beneficiary means a person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or the person's successor in interest, and who is not the trustee unless the beneficiary is qualified to be a trustee under ORS 86.713 (Qualifications of trustee) (1)(b)(D).

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Oregon Trust Deed and Retention Agreement

Oregon Trust Deed and Retention Agreement

Name: Oregon Trust Deed and Retention Agreement
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.6 (378 reviews)

Category:

Oregon Court Samples - Real Estate - Mortgage Documents

State:

Oregon

Control #:

OR-HJ-310-01

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Description

Trust Deed and Retention Agreement

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FAQ

When you are ready to sign a deed of trust, the parties will need to sign in the presence of a notary public.The deed of trust must then be recorded with the county where the property is located, and each of the parties (the trustor, trustee, and lender) should keep a copy of the recorded document.

The terms "title" and "deed of trust" are associated with real estate transactions. They're closely related to each other, but are slightly different. The title to your property contains a detailed history of past owners and liens. A deed of trust is a type of security instrument used by your mortgage lender.

Yes, there are key differences between the two. With a deed, you transfer the ownership of the property to one party. In contrast, a deed of trust does not mean the holder owns the property. In an arrangement involving a deed of trust, the borrower signs a contract with the lender with details regarding the loan.

A deed of trust is a written instrument with three parties: The trustor, who is the borrower and homeowner. The beneficiary, who is the lender. The trustee, who is a third party such as an insurance company or escrow management agency that holds actual title to the property in trust for the beneficiary.

Party information: names and addresses of the trustor(s), trustee(s), beneficiary(ies), and guarantor(s) (if applicable) Property details: full address of the property and its legal description (which can be obtained from the County Recorder's Office)

A Deed of Trust is essentially an agreement between a lender and a borrower to give the property to a neutral third party who will serve as a trustee. The trustee holds the property until the borrower pays off the debt.

A trust deedalso known as a deed of trustis a document sometimes used in real estate transactions in the U.S. It is a document that comes into play when one party has taken out a loan from another party to purchase a property.

Stay in your home The trust deed will take into account the equity in your home the value after any mortgage but you do not usually have to sell the property. You can also normally keep a car as long as it isn't especially valuable.As long as at least 75% of your creditors agree, the trust deed can be set up.

(2) Beneficiary means a person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or the person's successor in interest, and who is not the trustee unless the beneficiary is qualified to be a trustee under ORS 86.713 (Qualifications of trustee) (1)(b)(D).

Oregon Trust Deed and Retention Agreement

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FAQ

Does a deed of trust have to be recorded?

Is the deed of trust the same as a title?

What is the difference between a deed in trust and a deed of trust?

Who holds title in a deed of trust?

How do you fill out a deed of trust?

Who holds the deed of trust?

Is a Trust Deed the same as a deed of trust?

Will I lose my house with a trust deed?

Who is the beneficiary of a trust deed in Oregon?

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