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Updated over 2 years ago,
Construction rights in a seller finance deal
I'm seller financing vacant land and was wondering, when using the deed of trust loan instrument, if the borrower can build on the property as they see fit (obviously adhering to zoning restrictions) even though they don't hold legal title?
Or do they have to ask the trustee for permission, since the trustee holds the legal title and the borrower only the equitable title.