40 likes | 206 Views
Parties to a Mortgage. Loan of Funds. Owner-Debtor Borrower (“Mortgagor”). Creditor-Lender (“Mortgagee”). Security Interest in Real Property. Parties to Note and Deed of Trust. Loan of Funds. Owner-Debtor Borrower ( Trustor ). Creditor- Lender (Beneficiary ).
E N D
Parties to a Mortgage Loan of Funds Owner-Debtor Borrower (“Mortgagor”) Creditor-Lender (“Mortgagee”) Security Interest in Real Property
Parties to Note and Deed of Trust Loan of Funds Owner-Debtor Borrower (Trustor) Creditor-Lender (Beneficiary) Security Interest in Real Property Legal Title Trustee Upon default, Creditor exercises rights to take property
Two-Party Secured Transaction Loan or Sale of Goods on Credit Seller-Lender “Secured Party” Borrower-Debtor “Security Interest” in the Goods and/or other personal property of Debtor
Three-Party Secured Transaction Sale of Goods Buyer-Debtor Seller “Security Interest” in the Goods Loan of Funds $$$ Lender-Creditor “Secured Party”