“Mortgage” includes a trust deed, “mortgagor” includes a trustor under such trust deed, “mortgagee” includes a beneficiary under such trust deed, or a trustee exercising powers or performing duties granted to or imposed upon him thereunder, and “lien” in respect to real or personal property includes a charge or incumbrance arising out of a trust deed.
(Enacted by Stats. 1935, Ch. 145.)
Terms Used In California Insurance Code 29
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Personal property: All property that is not real property.
- Trustee: A person or institution holding and administering property in trust.
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.