What is the definition of a deed of trust?

Answer Some states use a document called a deed of trust instead of a mortgage. A third party, referred to as a trustee, acts on behalf of the lender. The trustee holds the title while the homeowner holds... Read More »

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What is the definition of a revocable trust?

A revocable trust is a trust account that can be controlled by the owner (trustor), but upon the death of the owner it becomes irrevocable (unable to be changed) and passes to one or more beneficia... Read More »

Definition of Irrevocable Trust?

An irrevocable trust is a legal arrangement that, once created, cannot be terminated or otherwise altered by the creator. Those with specific questions about trusts should contact an attorney.

Legal Definition of a Trust?

A trust is a legal relationship existing among at least three individuals or entities. The person that creates the trust and provides property to the trust is called the grantor, trustor, or settlo... Read More »

The Definition of a Special Warranty Deed and Deed of Trust in Texas?

A real estate sale in Texas commonly involves three documents: a deed, promissory note and deed of trust. The deed is the document used to convey title to the property from seller to buyer. Texas l... Read More »