In a Deed of Trust Transaction, When a Trustee Sells

question 44

Multiple Choice

In a deed of trust transaction, when a trustee sells the property and the proceeds generate a surplus, it _____.

• A) is paid to the borrower
• B) is paid to the lender
• C) is paid to the trustee
• D) goes to the state

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Definitions:

Governmental Contracts

Agreements entered into by government agencies with private entities or individuals for the supply of goods, services, or the undertaking of works.

Offerees

Individuals or entities to whom an offer is made, which they can either accept or reject.

Present Intent

A legal term referring to an individual's current intention to perform an act or designate a legal status, crucial for the validity of certain legal documents and transactions.

Definiteness

A characteristic of a contract that requires its terms to be clear enough for the parties involved to understand their obligations and rights.