Question

The person(s) executing a deed of trust are called the?

1) Trustor
2) Trustee
3) Beneficiary
4) Debtor in possession
5) Mortgagor

Answer 1

The person(s) who execute a deed of trust, transferring their assets into the trust, are known as the trustor. Once the trustor passes away, the trust usually becomes irrevocable, and the trustee is responsible for managing and distributing the trust's assets in accordance with the document's terms. Option 1

Step-by-step explanation:

In the context of estate planning and the administration of a trust, the trustor is the term used to describe the person(s) who create the trust and transfer their assets into it. They are the individuals who execute a deed of trust, thereby placing their assets under the control of the trust for the benefit of the named beneficiaries according to the trust's stipulations.

Once the trustor passes away, the trust often becomes irrevocable, meaning that the terms of the trust cannot be readily changed, and the trustee, along with the executor, has the duty to manage and distribute the assets as per the trust document. Option 1