In a deed of trust, who has the right to claim the property if the borrower defaults on the mortgage payments?

In a deed of trust, the beneficiary holds the right to claim the property in the event the borrower defaults on the mortgage payments. The beneficiary is typically the lender or financial institution that provides the loan for the property purchase. If the borrower fails to meet the payment obligations delineated in the deed of trust, the beneficiary can initiate a foreclosure process to reclaim the property.

While the trustee is involved in holding the title and ensuring that the terms of the loan are adhered to, they act on behalf of the beneficiary and do not have a personal claim to the property. The grantor is the borrower in this scenario, and the guarantor, if present, is someone who agrees to pay the loan if the borrower defaults, but does not have ownership or claim on the property itself. Thus, it is the beneficiary who ultimately has the right to take action against the property to satisfy the debt.