a seller of a home agrees to take back a second trust deed on the sale of her home but wants to make sure…

a seller of a home agrees to take back a second trust deed on the sale of her home but wants to make sure that the loan cannot be paid off in the first 3 years. in this case the loan should include :\na lock - in clause\nan “or more” clause\nbeneficiary\nall of the preceding parties\nquestion 19\n1 pts\na trust deed is signed by the:\nbeneficiary\nall of the preceding parties\ntrustor\ntrustee

a seller of a home agrees to take back a second trust deed on the sale of her home but wants to make sure that the loan cannot be paid off in the first 3 years. in this case the loan should include :\na lock - in clause\nan “or more” clause\nbeneficiary\nall of the preceding parties\nquestion 19\n1 pts\na trust deed is signed by the:\nbeneficiary\nall of the preceding parties\ntrustor\ntrustee

Answer

Brief Explanations:

A lock - in clause prevents early pay - off of a loan within a specified period, so for the first question, it meets the seller's requirement. A trust deed is signed by the trustor (the borrower who transfers title to the trustee for the benefit of the beneficiary), so for the second question, the trustor is the correct signer.

Answer:

Question 1: A. A lock - in clause Question 2: C. Trustor