Which legal document is primarily associated with the rights of a beneficiary?

The Deed of Trust is the legal document primarily associated with the rights of a beneficiary. In a Deed of Trust, there are typically three parties involved: the borrower (trustor), the lender (beneficiary), and the third-party trustee. The beneficiary holds a security interest in the property until the loan is repaid.

In this context, the term "beneficiary" refers specifically to the party that has the right to receive the benefits of the note secured by the Deed of Trust, which includes the right to payment as agreed upon in the loan documents. If the borrower defaults on the loan, the beneficiary can initiate foreclosure proceedings to recover the owed amount, making the Deed of Trust a crucial instrument in protecting the beneficiary's financial interests.

On the other hand, while other documents mentioned also have legal significance, they do not specifically focus on a beneficiary's rights. A will primarily outlines the distribution of an individual's assets after death, a mortgage agreement involves a lien on property for the purpose of securing a loan but is between the borrower and lender without a trustee, and a lease governs the rental agreement between a landlord and tenant rather than dealing with beneficiary rights tied to property loans. Thus, the best answer reflecting the rights of a