A Florida Deed of Trust is not a statutory form and it is not recognized in this state, therefore, individuals should use mortgages when it comes to buying a real property with a loan. Nevertheless, deeds of trust provide a lot of advantages for a beneficiary, since it involves a non-judicial foreclosure. It does not require any party to file a lawsuit, therefore, it takes less time. The real property is held by an intermediary - a trustee - that transfers a title of ownership of the real estate to the beneficiary if the trustor fails to comply with the terms of the deed.
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