The person who borrowed money and pledged his/her real property as security.
The person who is lending the money
The person or organization who is holding the property in trust for the parties.
(e.g. Lot Number, Block Number, Additions, City, County, State)
Terms of Repayment
Allows the Trustor to prepay a percentage of the Principal of the Trust each year before the payment is due. This has its advantages and disadvantages. It is a significant benefit to the Trustor as it reduces the total interest paid over the term of the Trust. Unfortunately, the Beneficiary will need to reinvest that prepaid money to continue to ear the same or similar interest income.
Allows the Trustor to prepay the entire remaining Principal of the Trust before the end of the Trust term. While it is an advantage to the Trustor, the Beneficiary loses out on the interest payments that he/she would have received on that principal. Usually this type of option is accompanied by a penalty and is only available after a set number of years have past on the Trust. You will be given the opportunity to specify these restrictions.
Power of Sale
Trustor Signing Information
Information relating to the signing and notarization of the document for the Trustor