Trustee's Sale
Definition of "Trustee's sale"
When a debtor defaults on a loan for which a deed of trust is given, the trustee is required to have a sale of the real estate security for the benefit of the lender. A deed of trust is used in place of a mortgage in many states. When a loan is made by a lender which is collateralized by real estate, a deed of trust is signed by the parties giving legal title of the collateralized property to a trustee for the purpose of insuring that the property is used to satisfy the debt in the event of default.
Popular Real Estate Terms
When an owner of real estate dies interstate, having no enforceable will, the property descends, by operation of law, to the owner's inheritors. ...
The Federal Reserve Bank's regulation applying to the amount of credit that may be advanced by brokers and dealers to customers to buy securities. ...
Situation in which a person guilty of breaking a contract is required by the judge to fulfill his duties. Specific performance is required only if the item or subject of the contract is ...
Average of income, retail revenue, and population of a locality as a percentage of the entire United States. It reflects the economic status of a particular region. ...
Usual operating service life of property for the purpose it was acquired. The useful life used for depreciation accounting does not necessarily coincide with the actual physical life or any ...
The meaning of commercial acre in the United States defines the remaining part of an acre of a newly divided land once curbs, streets, and boardwalks have been separated from the original ...
The metaverse definition can be described as a digital environment that is simulated through the use of augmented reality (AR), virtual reality (VR), and blockchain technology, combined ...
Legal dictate that must exist for property to be owned as joint tenants. ...
If you’re in the business of purchasing properties, maybe as a real estate investor, you might be wondering what is cost segregation. Well, first of all, it’s a study that deals ...
Have a question or comment?
We're here to help.