In states allowing a trust deed, which of the following in not true?
a. A trust deed serves as security for a debt
b. A trust deed substitutes for the first mortgage
c. A trust deed conveys legal title to the trustee
d. A trust deed conveys legal title to the trustor
Answer: d. A trust deed conveys legal title to the trustor
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Albert received a life estate in property, but the property had a mortgage against it. Which statement is TRUE regarding this situation?
A. Mortgage payments are the responsibility of the remainder interest holder. B. The mortgage nullifies the life estate. C. The life tenant pays the interest, but the remainder interest pays the principal. D. The mortgage payment is split evenly between life tenant and remainder holder.
One distinction between core processes and support processes is that core process can cut across the organization while support processes do not
Indicate whether the statement is true or false