O-Definitions 2016-10-14T16:26:32+00:00

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OFFSET STATEMENT
A statement furnished to an escrow from an owner of land subject to an encumbrance (note) as to the balance due. Not to be confused with a beneficiary’s statement. This can also be provided by a tenant regarding his rights of possession.

OPEN END DEED OF TRUST
A Deed of Trust which secures additional notes for funds that a lender may advance to a trustor, subsequent to the execution of the original loan.