Business, Legal & Accounting Glossary
An instrument that grants a trustee under a land trust full power to sell, mortgage, and subdivide a parcel of real estate. The beneficiary controls the trustee’s use of these powers under the provisions of the trust agreement. A provision that allows a lender to foreclose on a property in the event that the borrower defaults on the loan.
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This glossary post was last updated: 20th November, 2021 | 0 Views.