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The Commission Approved Deed of Trust form has options for all the following EXCEPT?

1) Assumable if Creditworthy Deed of Trust
2) Strict Due On Sale Deed of Trust
3) Assumable Deed of Trust
4) An automatic 1

1 Answer

2 votes

Final answer:

The Commission Approved Deed of Trust form includes options for various clauses, but 'an automatic 1' does not correspond with any common option and is likely a typo or irrelevant part of the question.

Step-by-step explanation:

The question relates to a Deed of Trust, which is a document used in real estate transactions. Specifically, the question refers to the various clauses that may be included in a Commission Approved Deed of Trust form. These clauses determine the terms under which a property may be transferred or assumed by another party. The forms typically have options such as an Assumable if Creditworthy Deed of Trust, which allows a new borrower to take over the loan if they meet the lender's credit requirements; a Strict Due On Sale Deed of Trust, which requires the loan to be fully repaid when the property is sold; and a general Assumable Deed of Trust, which may permit loan assumption under certain conditions.

However, the phrase 'an automatic 1' does not correspond with a common clause or option in a Deed of Trust. It's possible that this phrase is a typographical error or a part of the question that is not relevant to the typical options available in a Commission Approved Deed of Trust form.

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