WORD OF THE DAY: NOVATION - may mean any of the following : (1) The substitution of an existing debt with a newer debt. (2) An arrangement to substitute an existing party to a contract with a new party. All of the original parti ... More
1. ) Also known as a trustdeed, a three-party document conveying interest in property, most commonly a real estate, to a trustee. In many states, deeds of trust are used instead of mortgages.In those states, the trustee holds the deed in favor of the lender and then reconveys the title to the borrower when the loan is paid in full.
Fund Letters
