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Does an agreement that requires the recording of a trust deed that doesn't allow foreclosure rights fall within the statute of frauds?
Wiki User
∙ 14y ago
What you are asking is unclear.
Land can be conveyed to a trust with the restriction that it not be made subject to a mortgage that includes the right to foreclose. That restriction may also be made a part of the trust document as a provision that the trustee may not encumber the trust property by any mortgage, or more simply, the trustee is not given the power to mortgage the trust property.
If you are referring to a 'trust deed' as a means of granting mortgage in some states, the lender will not accept a trust deed that restricts their right to foreclose.
Wiki User
∙ 14y ago
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