Posted by Soraya(SanDiego) on June 03, 2000 at 08:29:47:
Is Ohio a Trust Deed state or a Mortgage state?
A Performance Trust Deed (or performance Mortgage) rather than securing money loaned against the property secures the performance of the property owner.
In the example we are talking about the performance trust deed makes sure the property owner will allow you to exercise your option to purchase. If the property owner refuses, you can foreclose on the property.