Individuals and entities can use a Tennessee Deed of Trust when they would like to make sure the other party will perform their obligation to return the loan on agreed conditions. Unlike many other states, Tennessee provides its residents with a statutory form for such kinds of deeds that can be found in Section 66-5-103(4) of the Tennessee Code. According to it, your deed of trust shall include the names of all involved parties (a trustor, a trustee, and a beneficiary), the description of the property that is being conveyed to the trustee, the time period during which the trustor is required to return the loan to the beneficiary, and other details.
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