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In trust law, a trust instrument (also sometimes called a deed of trust, where executed by way of deed) is an instrument in writing executed by a settlor used to constitute a trust. Trust instruments are generally only used in relation to an inter vivos trust ; testamentary trusts are usually created under a will .
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 ...
A deed of trust is a legal agreement used in a real estate transaction in which a third party — the trustee — holds the title to the property until the borrower repays the mortgage in full. A ...
A trust in the US may be subject to federal and state taxation. The trust is governed by the terms under which it was created. In most jurisdictions, this requires a contractual trust agreement or deed. It is possible for a single individual to assume the role of more than one of these parties, and for multiple individuals to share a single role.
For an express trust to be valid, the trust instrument must show certainty of intention, subject matter and object. [4] Certainty of intention means that it must be clear that the settlor or testator wishes to create a trust; this is not dependent on any particular language used, and a trust can be created without the word "trust" being used ...
Example of the reconveyance process Unless you purchase a home entirely with cash, it’s likely that you’ll have a mortgage on the property. Let’s say you take out a mortgage from a lender ...