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(a) Every transfer of an interest in property, other than in trust, made only as a security for the performance of another act, is to be deemed a mortgage, except when in the case of personal property it is accompanied by actual change of possession, in which case it is to be deemed a pledge.
The Supreme Court had held in 2012 that at the time the note and deed of trust are “split” between the note holder and MERS (as the beneficiary of the deed of trust); no party has standing to foreclose because the note and deed of trust must be “reunified” before foreclosure.
State law requirements for mental capacity may vary, but typically the law requires the settlor to have reached the state's majority age (usually 18), and to be capable of knowing and understanding what he is doing with his property.
Because a trust is essentially a contract, the settlor must also meet any additional state-specific requirements for mental capacity to create a contract.
Unless a quit claim deed is valid, it can be withdrawn without agreement between the two parties.
Several steps must be taken before a quit claim deed can be valid. In most states, the deed also must be signed by the grantee.