Legal Question in Real Estate Law in California

You use terms like "owner" when you are the owner of the property. I assume that you mean the owner of the promissory note, also called the "holder" of the note.

First. A trust can own a promissory note. To be more technical, the owner of the note is the trustee of the trust. There is nothing illegal about that in and of itself.

Second. You would make the payments to the trustee of the trust, until your promissory note is transferred to someone else. Your promissory note may be security for a loan made to the holder of the note, but you would not make payments to someone else until the person you were paying defaulted on his loan and your promissory note was transferred to the people he borrowed from.

It depends on what the note says. If it does not restrict the ablity of the holder of the note to transfer it, he has the right to do so. Keep careful track of your payment so you can prove what has been paid.