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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Declaration vs. Deed Posted by Troy on November 01, 2001 at 10:09 AM In Reply to: Re: Declaration of trust vs Deed of trust posted by Ward-CA- on October 25, 2001 at 8:47 PM Troy, here are the definitions of the two terms from the Foreclosure Glossary (see link below). DECLARATION OF TRUST: A written document that delineates the powers of a named trustee who holds title to certain property for the benefit of others (beneficiaries). Commonly used by the famous or wealthy to keep their ownership of property confidential. DEED OF TRUST (TRUST DEED): A three party security instrument conveying the legal title to real property as security for the repayment of a loan. The home owner is called the "trustor". The neutral third party to whom the bare legal title is conveyed (and who is called on to liquidate the property if need be) is the "trustee". The lender is the "beneficiary". When the loan is paid off the trustee is directed by the beneficiary to issue a deed of reconveyance to the trustor, which extinguishes the trust deed lien. I have a copy of Dacey’s book too. So please give me the page reference to the material wherein he’s discussing the deed of trust because I can't quite make out what text you're referencing. Thanks. ====================================== Ward, thanks for the reply. Sorry it's taken me some time to get back to you. My wife had our first child last Friday and I'm just now getting back in to the swing of things. Our son is healthy and so is Mom, and we're all feeling quite blessed. I feel like I could just sit and look at him for hours he's so handsome. I'm definitely what you would call a "Proud Papa". Anyway, why don't you give me a few more days to get back to you with the page numbers/paragraphs from Mr. Dacey's book describing the deed and declaration of trust. I appreciate you taking the time to look, and I hope things are going well for you all. Elsa sure looks happy in Grandpa's arms! Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Troy, here are the definitions of the two terms from the Foreclosure Glossary (see link below). : DECLARATION OF TRUST: A written document that delineates the powers of a named trustee who holds title to certain property for the benefit of others (beneficiaries). Commonly used by the famous or wealthy to keep their ownership of property confidential. : DEED OF TRUST (TRUST DEED): A three party security instrument conveying the legal title to real property as security for the repayment of a loan. The home owner is called the "trustor". The neutral third party to whom the bare legal title is conveyed (and who is called on to liquidate the property if need be) is the "trustee". The lender is the "beneficiary". When the loan is paid off the trustee is directed by the beneficiary to issue a deed of : reconveyance to the trustor, which extinguishes the trust deed lien. : I have a copy of Dacey’s book too. So please give me the page reference to the material wherein he’s discussing the deed of trust because I can't quite make out what text you're referencing. : Thanks. : ====================================== : Ward, thanks for the reply. : Sorry it's taken me some time to get back to you. My wife had our first child last Friday and I'm just now getting back in to the swing of things. Our son is healthy and so is Mom, and we're all feeling quite blessed. I feel like I could just sit and look at him for hours he's so handsome. I'm definitely what you would call a "Proud Papa". : Anyway, why don't you give me a few more days to get back to you with the page numbers/paragraphs from Mr. Dacey's book describing the deed and declaration of trust. : I appreciate you taking the time to look, and I hope things are going well for you all. Elsa sure looks happy in Grandpa's arms! Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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