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The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]
The final text of the Uniform Trust Code (UTC) was approved by the ULC commissioners in August 2000. The American Bar Association's House of Delegates officially endorsed the UTC in February 2001. The following months saw the finalization of detailed interpretive comments in April 2001 and minor clean-up revisions in August 2001. [ 2 ]
Transactions involving deeds of trust are normally structured, at least in theory, so that the lender/beneficiary gives the borrower/trustor the money to buy the property; the borrower/trustor tenders the money to the seller; the seller executes a grant deed giving the property to the borrower/trustor; and the borrower/trustor immediately executes a deed of trust giving the property to the ...
The names of these offices are usually the "Recorder of Deeds" or something similar. State statutes also prescribe the following elements: What instruments are entitled to be recorded, usually deeds, mortgages (whether or not in the form of deeds of trust), leases (usually longer term varieties), easements, and court orders. There is generally ...
The resulting merger of the legal and equitable gives rise to the "perfect title", often referred to as marketable title. Legal and equitable title also arises in trust. In a trust, one person may own the legal title, such as the trustees. Another person may own the equitable title such as the beneficiary. [2]
What’s the difference between security interest and deed of reconveyance? Security interest means a lender has the right to foreclose upon your home if you fail to keep up with mortgage payments.
Trust deed or deed of trust may refer to: Deed of trust (real estate) , as distinguished from the general concept of a deed Trust instrument , a legal instrument in common law systems
Dozens of people have scored legal wins against Tennessee’s sex offender registry law since federal judges ruled it violates constitutional protections against retroactive punishment.