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  1. #11

    Default Re: Remainderman Interest in Foreclosure

    This is the wording in the deed of trust that was dated before the quit claim deed to the remainderman.

    "Borrower irrevocably grants and conveys to the Trustee, in trust, with the power of sale the following property"

    How can she grant anything to the remainderman since the note and deed of trust predate the quit claim deed?

  2. #12
    Join Date
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    Default Re: Remainderman Interest in Foreclosure

    Quote Quoting confusedinAR
    View Post
    This is the wording in the deed of trust that was dated before the quit claim deed to the remainderman.

    "Borrower irrevocably grants and conveys to the Trustee, in trust, with the power of sale the following property"

    How can she grant anything to the remainderman since the note and deed of trust predate the quit claim deed?
    Because the trust deed is a limited conveyance; it gives the trustee the power to sell the property for the lender if the loan contract is breached by the borrower. It does not divest the property owner of all his/her rights in the property.

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