Used in some states in place of a mortgage. A Deed of Trust is a document used to grant a collateral interest in real property. The owner(s) of the property must sign it. The Deed of Trust provides that if that if a borrower defaults on the loan, then the bank's trustee has the right to sell the property and apply the proceeds toward payment of the indebtedness secured by the Deed of Trust.

Deed Restriction

A document used in some states in place of a mortgage. A type of security instrument granted by a mortgagor (borrower) to a mortgagee (lender) which conveys title in trust to a third party (trustee) for the purpose of securing payment on a note. Under the terms of a deed of trust, the trustee is bound to reconvey title to the mortgagor upon satisfaction of the note, and is bound to sell the property and pay the debt in the event of a default on the note.

The document used in some states instead of a mortgage; title is vested in a trustee to secure repayment of the loan.

An instrument used in place of a mortgage. Property is transferred to a trustee by the trustor (borrower) and reconveyed upon payment in full to the lender.

The document used in some states instead of a mortgage. There are three parties to the instrument: the borrower, the trustee, and the lender, (or beneficiary). The borrower transfers the legal title for the property to the trustee who holds the property in trust assecurity for the payment of the debt to the lender or beneficiary.

A legal document that transfers property to a trustee to secure the payment of a loan. It serves much the same purpose as a mortgage. The title to real estate is placed in the hands of a trustee; it is transferred to the buyer of the property when the debt has been paid in full.

A legal document that allows the securitization of a property that is used as collateral on a loan.

A deed which sets out the shares of the property owned by the different owners.

Defeasible Title Deficiency Judgment

An instrument used in some states, taking the place and serving the uses of a mortgage, by which the legal title to real property is placed in one or more trustees to secure the repayment of a sum of money or the performance of other conditions. Though differing in form from a mortgage, it is essentially a security.

Also referred to as Trust Deed. It is a legal instrument by which title to land is transferred to a trustee as security for a debt or other obligation.

An instrument used in many states in place of a mortgage. Also called a trust deed.

A legal instrument used to secure a loan on real estate. Foreclosures can be effected more quickly with a Deed of Trust than with a Mortgage.

In some states, this document is used in place of a mortgage to secure the payment of a debt.

The deed, which conveys legal title to a trustee to be held as security for a loan on real property.

A document that makes property security for the payment of a loan.

Instrument by which the borrower pledges a property as collateral to the lender

In some states, a documented used instead of a mortgage. The title is conveyed to a trustee.

the document you sign at closing in Washington State that secures the lender an interest in your property. This appears as mortgage lien on the property's title.

The document that pledges your property as security for repayment of the promissory note to your lender.

The security instrument that conveys the title in trust to a disinterested third party as collateral until a debt has been paid in full. It also conveys power to that trustee to sell the property in case of default.

Puts up the title to real property as security for a mortgage loan and therefore protects the lender in case of a default.

Security interest in real property in which title is held by a trustee until the borrower and occupant of the land repays the beneficiary (lender) in the amount of the loan.

An instrument used to create a mortgage lien by which the mortgagor conveys title to a third party in order to secure payment of a loan on a particular piece of property.

Similar to a mortgage, this is an instrument whereby the owner of real property uses that property as collateral for the payment of a note or other obligation.

another term for a mortgage. Can also be another instrument used in some states in lieu of a mortgage. Legal title to the property is vested in one or more trustees to secure the repayment of the loan.

Legal document the borrower signs at loan closing giving the lender a security interest in the mortgaged property.

in certain states, a legal instrument that secures a note and perfects a security interest upon real property.

A security agreement creating a lien by which title to real property is transferred to a third-party trustee as security for an obligation owed by the trustor (borrower) to the beneficiary (lender).

A document used in some states instead of a mortgage, to pledge property as insurance for a loan.

In California and many other states, a deed which transfers title and the right to sell your property to a disinterested third party, subject to your default on the loan. This is a substitute for judicial foreclosure, and should not be mistaken for it.

A voluntary lien on a specific piece of property given for the purpose of securing a debt or other obligation.

Some states, like California, do not record mortgages. Instead, for real estate a deed of trust is used and recorded as security for repayment of a note.

A document used instead of a mortgage in some states

An instrument by which title to real property is conveyed to a trustee to hold as security for the holder of notes or bonds.

Document used instead of a mortgage in some states; title is conveyed to a trustee.

A document used to secure the collateral in financing the property; title is transferred to the trustee, with payments made to the beneficiary by the trust or.

A written instrument that conveys or transfers property to a trustee. Property is transferred by the borrower to a trustee, who holds it as security for the payment of debt, and upon full payment of the debt is reconveyed to the borrower. In some states, a deed of trust is used in place of a mortgage.

A document used in many states instead of a mortgage; title is conveyed to a trustee.

In many states, a document used in place of a mortgage, to secure the payment of a note held by a trustee pending repayment of the loan.

A three party security instrument conveying the legal title to real property as security for the repayment of a loan. The owner is called the "trustor". The neutral third party to whom the bare legal title is conveyed (and who is called on to liquidate the property if need be) is the "trustee". The lender is the "beneficiary". When the loan is paid off the trustee is directed by the beneficiary to issue a deed of reconveyance to the trustor, which extinguishes the trust deed lien.

Instrument by which title to real estate is transferred to a third-party trustee as security for the repayment of a real estate loan. Used in California instead of a mortgage.

Security for mortgage loan which is a lien on deed

The legal document that pledges the property for the security of a mortgage loan.

similar to a mortgage, but rather than being held by the lending institution as in the case of a mortgage, the document called the deed of trust is transferred to a third-party trustee to secure the debt owed to the lender by the borrower.

A financing arrangement in which a trustee holds title on behalf of the lender as security for the loan.

DOTs are similar to mortgages in that they serve as security for a loan by encumbering real estate. However, a mortgage is between two parties (borrower and lender) and a deed of trust involves three parties (borrower, lender and trustee). The trustee holds the property in trust as security for the payment of the debt and can sell the property if the borrower defaults.

A written instrument by which a borrower (trustor or owner) conveys an estate in real property to another (trustee) for the benefit of the lender (beneficiary) as security for the repayment of a money loan. In the event of a failure of the trustor to repay the debt, the trustee conducts a foreclosure sale of the real property.

The document used in certain states in place of a mortgage. Title (ownership) is conveyed to a trustee while the mortgage debt is repaid.

The agreement used in many western states to pledge your home or other real estate as security for a loan. The property is transferred to a trustee by the borrower in favor of the lender, and reconvened upon payment in full. This is similar to a mortgage.

An instrument used in place of a mortgage so that the lender's rights are secured.

A legal document that conveys an interest in real property to a thrid party for the benefit of the lender until the owner has repaid the full amount of the debt.

Essentially the same thing as a mortgage record, it is used by some states (such as California) as an alternative.

A security instrument conveying title in trust to a neutral third party. In some cases this is used in place of a mortgage.

a mortage arrangement which allows a third party to hold the deed until the buyer has paid his debt

An instrument given by the borrower to a third party (trustee) vesting title to the property in the trustee as security for the borrower's repayment of the mortgage loan.

Similar to a mortgage, it is a security instrument used when real property is given as security for a debt. In a deed of trust state, there are three parties to the instrument; a neutral party known as the trustee, the borrower, and the lender (or beneficiary).

A document used in some states in place of a mortgage that gives the lender a security interest in the property. Title is conveyed to a trustee who holds title to the property until the loan is paid off.

A document that is used in some states instead of a mortgage. The title conveyed by a trustee instead of the borrower.

A deed of trust is a document (used in many states in place of a mortgage) that is held by a trustee pending the repayment of the loan.

A legal document which enables the lender, or mortgagee, to hold legal claim or title to a property while the note is outstanding. The deed of trust transfers title to a trustee designated by the lender.

In some states loans are secured by means of a document called a deed of trust, instead of a mortgage document.

An instrument used in many states in place of a mortgage. Property is transferred to a trustee by the borrower (trustor), in favor of the lender (beneficiary) and reconveyed upon payment in full.

A legal document that conveys title to real estate to a disinterested third party (a "trustee") who holds the title until the borrower has repaid the debt. In some states, this document is used in place of a mortgage.

A conveyance of a land title by a maker of note (the debtor) to a third party, a trustee, as collateral security for the payment of the note with the condition that the trustee shall re convey the title to the debtor upon payment of the note, and with power in the trustee to sell the land and pay the note in the even of a default on the part of the debtor.

A document that pledges property as security for a loan. It defines the rights and procedures that protect the lender in case the borrower defaults on the loan. Rarely used in Alabama.

a document whose purpose is similar to that of a mortgage, used in some states to secure a property for a lender until a loan is paid in full.

The most popular real estate financing instrument, used predominantly in western states. This document is far superior (from the lender's point of view) to a mortgage and allows for either judicial foreclosure like a mortgage or non-judicial foreclosure--a cheaper, quicker process.

A legal document which serves the same purpose as a mortgage, required in some states.

A legal instrument conveying title held in trust by a third party. In such cases, a trustee retains the title until a loan debt is repaid. In some regions, it is used in place of a mortgage.

Document creating a lien on a property as security for the payment of a debt. In some states, a mortgage is used instead.

A voluntary lien to secure a debt deeding the property to Trustees who foreclose, sell the property at public auction, in the event of default on the Note the Deed of Trust secures. Compare, MORTGAGE.

A deed of trust is a regarded a three-party mortgage arrangement between the borrower, the lender and a trustee. If the borrower fails to pay his mortgage, the trustee is preauthorized by the borrower to sell the house and apply the sales proceeds to pay off what remains unpaid on the loan secured by the deed of trust of give the deed to the lender in exchange for cancellation of some or all of the borrower's debt.

A document that gives a lender the right to foreclose on a piece of property if the borrower defaults on the loan.

The document used in some states instead of a mortgage; title is conveyed to a trustee.

Document creating security interest in real property in which title is held by a trustee until the borrower repays the beneficiary (lender) in the amount of the loan. Used in some states for the essentially the same purposes as a mortgage.

See Mortgage.

A document executed by the owner of land by which the land is given as security for the payment of a note or other performance of an obligation. In California and some other states the Deed of Trust is usually used in place of a mortgage.

the document you will sign at closing that pledges the subject property as collateral for the loan. This document will be recorded at the county court house as a public record.

In Tennessee, we have this instrument that is referred to as a mortgage in other states. This is the instrument that secures the lenderâ€(tm)s interest in the loan. In short, it states that if the borrower defaults on the loan, the house will go into foreclosure and will become a great deal for people that watch cheesy television shows late in the evening.

A document by which title to property is held for security by a third party until a debt is paid.

Document conveying title to the land to a third party "trustee" as security for the performance of an obligation. Comparable to a mortgage in some states.

Used in place of a mortgage in some states. The deed to a property is held by a trustee (title company or other third party) with the condition that it will be conveyed to the borrower when the mortgage is paid off.

A legal document used in California instead of a mortgage, by which the borrower pledges a piece of real property as security for repayment of a loan.

In many states, this document is used in place of a mortgage to secure the payment of a note.

A document, used in many states in place of a mortgage, held by a trustee pending repayment of the loan. The advantage of a deed of trust is that the trustee does not have to go to court to proceed with foreclosure should the borrower default on the loan.

A document allows a lender to foreclose on a piece of property in the event that the loan falls into default.

Used in many western states, the agreement used to pledge your home or other real estate as security for a loan. Similar to a mortgage.

An instrument which is evidence of a pledge of real property as security for a debt, where the title to the real property is held by a third party in trust, while the debtor repays the debt to the lender. The debtor is known as the trustor, the lender is known as the beneficiary, the third party is known as the trustee.

Document giving the lender the right to foreclose on a piece of property if the borrower defaults on the loan.

An document that transfers the bare legal title of a property to a trustee to be held pending fulfillment of an obligation, usually the repayment of a loan to a beneficiary.

A legal instrument used in many states for real property. Involves three parties: the borrower, trustee, and mortgage company or lender. Similar to a mortgage, and many states treat a deed of trust the same as a mortgage.

Agreement to pledge property as security for a loan, used in many states in place of a mortgage. In such an arrangement, the borrower transfers legal title to a trustee who holds the property in trust as security for the repayment of the debt. The deed of trust becomes void if the debt is repaid, but if the borrower defaults on the loan, the trustee may sell the property to pay the debt.

Used in place of a mortgage in some states. Deed that conveys bare legal title to a trustee to be held as security for a loan on real property.

Some states, like California, do not record mortgages. Instead, they record a deed of trust which is essentially the same thing.

The three parties of the deed are the borrower, the trustee, and the lender (or beneficiary). The borrower transfers the legal title for the property to the trustee who holds the property in trust as security for the payment of the debt to the lender/beneficiary. If the borrower pays the debt as agreed, the deed of trust becomes void. If, however, the borrower defaults, the trustee may sell the property at a public sale under the terms of the deed of trust. In most jurisdictions where the deed of trust is in force, the borrower is subject to having his property sold without benefit of legal proceedings. A few states have begun to treat the deed of trust like a mortgage.

An instrument used in many states in place of a mortgage. The property is transferred to the trustee by the borrower (or trustor) in favor of the lender (or beneficiary). Reconveyance takes place once payment in full has occurred (this instrument secures the mortgage).

Deed of Trust is used in place of a mortgage or a deed to secure debt. While there are only two people involved in a mortgage, the borrower and the lender, there are three people involved in a deed of trust: the borrower, the lender and the trustee. Here, the borrower transfers the legal title for the property to the trustee who holds the properly as a security for the debt. If the borrower pays the mortgage as agreed, the trustee gives the legal title to the owner. If the borrower does not pay the mortgage as agreed, the trustee can sell the property.

Used in place of a mortgage in some states; title is typically conveyed to a trustee by the borrower. In this case the lender serves as the beneficiary until the balance of the loan has been paid in full.

An instrument used in many states in place of a mortgage by which real property is transferred to a trustee by the borrower (trustor), in favor of the lender (beneficiary), to secure repayment of a debt.

A document by which the title to the property is pledged as security for the repayment of a loan. It involves three parties: the borrower, the trustee, and the lender (or beneficiary). The borrower transfers the legal title for the property to the trustee who holds the property in trust as security for the payment of the debt to the lender or beneficiary.

A legal document that pledges a property to a lender as collateral for a debt. (Some states use Mortgages rather than deeds of trust; they are effectively the same thing.)

An instrument used to create a mortgage lien by which the borrower conveys title to a trustee, who holds it as security for the benefit of the note holder (the lender).

The document used in some states, instead of a mortgage, to secure the repayment of money borrowed.

A three party security document conveying title to land, secured by the performance of an obligation, such as the repaying of a loan. It is also called a trust deed.

A legal document in which title to property is transferred to a third party trustee as security for an obligation owed by the trustor (borrower) to the beneficiary(lender).

A type of security instrument that conveys title to a third party until the payment of the debt; it accomplishes essentially the same purpose as a mortgage

A legal instrument which secures the payment of a loan or mortgage, used in some states instead of mortgages. Title is transferred to a trustee by the borrower, with the lender as beneficiary, until the loan balance has been paid.

The deed of trust is the lien instrument used to secure the Principal Balance on a particular property and is recorded in the County Recorder's office of the County in which the property lies. This document includes descriptions of the Trustor, Trustee and Beneficiary, the legal description of the property, lien amount and terms of property maintenance which the Borrower must comply or face foreclosure action.

A legal instrument, similar to a mortgage, that grants a lien on real property to secure the performance of an obligation, usually the payment of debt. Unlike a mortgage, a deed of trust involves a third party trustee who acts for the benefit of the lender.

A document that gives a lender a security interest in your home equal to the amount you borrowed. (See also "Power of sale.")

A document in which a borrower conveys title rights of real property to a trustee to be held in trust for the beneficiary of the trust. The lender is the beneficiary.

The deed to real property which serves the same purpose as a mortgage, but instead of two parties being involved there are three. The third party holds the title for the lender. The lender is called the beneficiary. The borrower is called the trustee. When a loan is made, the borrower conveys title a third party who holds the title for the benefit of the lender although the instrument may remain with the lender.

A written and recorded document executed by the owner of a real piece of real property pledging the value of the property as collateral for a loan.

A legal instrument used instead of a mortgage in certain states. This document allows legal title to a real property to be vested in trustees to secure payment of a note.

A legal instrument used in many states in place of a mortgage, where title to the property is vested in one or more trustees to secure the repayment of the loan.

An instrument that secures the repayment of a sum of money or the performance of other conditions. This is a three-party document, which includes the borrower, the beneficiary, and the trustee or trustees who hold the legal title or control of the property.

Document used in many states to secure the payment of a note.

A trust that is used to buy real estate. A trustee has the title to the property until the person who borrowed money pays it all back. If the borrower doesn't pay or doesn't do what the trust says, the trustee can sell the house to pay back the lender.

A legal document that conveys title to real estate to a disinterested third party (trustee) who holds the title until the owner of the property has repaid the debt. In states where it is used, a Deed of Trust accomplishes essentially the same purpose as a Mortgage.

A security instrument that uses a third party, called a trustee, to foreclose in the event of default.

A legal document that conveys title to real property to a third party, who holds the title until the owner has repaid the full amount of the debt.

Like a mortgage, a security instrument whereby real property is given as security for a debt. However, in a deed of trust there are three parties to the instrument; the borrower, the trustee, and the lender (or beneficiary).

A type of security instrument in which the borrower conveys title to real property to a third party to be held in trust as security for the lender, with the condition that the trustee shall convey the title upon the payment of the debt and conversely, will sell the land and pay the debt in the even to of a default by the borrower.

A document which transfers title in a property to a trustee, who's obligations and powers are stipulated. Often used in mortgage transactions.

Instrument used to secure a loan on real estate. Like a mortgage, generally used in the South. The major difference is in how foreclosures are handled. Foreclosures are much faster with a Deed of Trust than with a Mortgage.

The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee often a title company who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.

A type of security instrument in which the borrower conveys a trust to hold property to a third party (trustee) as security for the lender, with the condition that the trustee shall reconvey the title upon the payment of the debt, and, conversely, will sell the land and pay the debt in the event of a default by the borrower.

A financing instrument in which the borrower/trustor conveys title of the collateral to a trustee to be held in trust for the beneficiary/lender. When the loan is repaid, title is reconveyed to the trustor. If a default occurs, the trustee exercises the power of sale on behalf of the beneficiary.

Used in place of a mortgage in some states. Title is transferred to a trustee by the borrower, with the lender as beneficiary, until the loan balance has been paid.

A written instrument by which Title to an interest in land is transferred by the Trustor to a Trustee as security for a loan or other obligation due a Beneficiary. Also, called Trust Deed.

A document used in some states instead of a mortgage. When borrowers sign this document, they receive title to the property but convey title to a neutral third party, called a trustee, until the loan is repaid.

A document under seal which, when delivered, transfers a present interest in property. May be held as collateral.

A security instrument, used in place of a mortgage, conveying title in trust to a third party covering a particular piece of property. It is used to secure payment of a promissory note.

Used in place of a mortgage to secure the payment of a note (not in every state).

(See trust deed.)

Very much like a mortgage, a deed of trust pledges specific real estate as collateral for a loan.

In some states, this document is used instead of a mortgage. It transfers title of the property to a third party (the trustee) who holds the title until the debt or mortgage loan is paid off, at which time, the title (ownership) passes to the borrower. If the borrower defaults (fails to make payments), the trustee may sell the property at a public sale to pay off the loan.

Like a mortgage, a security contract where real property is given as security for a debt. The difference it that in a deed of trust there are three parties: the borrower, the trustee, and the lender, (or beneficiary). The borrower transfers the legal title for the property to the trustee who holds the property in trust as security for the payment of the debt to the lender or beneficiary. If the borrower pays the debt as agreed, the deed of trust becomes void. If, however, the borrower defaults, the trustee may sell the property at a public sale, under the terms of the deed of trust. Also known as trust deed

A three party security instrument that conveys the legal title to real property as security for the repayment of a loan. The 3 parties in a Deed of Trust are the borrower, lender and the trustee.

A security instrument whereby real property is given as security for a debt. However, in a deed of trust there are three parties to the instrument: the borrower, the trustee, and the lender. In such a transaction, the borrower transfers the legal title for the property to the trustee who holds the property in trust as security for the payment of the debt to the lender.

A deed given by the property owner to secure performance of an act (such as making payments on a loan). A deed of trust provides security for mortgage note.

In some states, this document is used in lieu of a mortgage to secure the payment of a note.

See: Indenture. DEEP DISCOUNT: A bond trading substantially below its face value; a term typically used in reference to zero coupon bonds. See: Discount.

A three party security instrument conveying title to land as security for the performance of an obligation. Also called "trust deed.".

Synonymous to a mortgage. A deed of trust or mortgage is obtained, depending on the state in which the borrower will reside.

The document that pledges the subject property as collateral for the repayment of the loan.

Deed given by borrower to trustee to be held pending fulfillment of an obligation, which is ordinarily repayment of a loan to a beneficiary (lender).

A legal document in which the borrower conveys the title to a 3rd party (trustee) to hold as security for the lender. When the loan is paid in full the trustee reconveys the deed to the borrower. If the borrower defaults on the loan the trustee will sell the property and pay the lender the mortgage debt.

A legal document by ewhich a borrower pledges real property as guarantee for the repayment of a loan. There are three parties to a deed of trust. They are the Trustor, Trustee, and Beneficiary.

The trust agreement drawn up when a corporation plans to issue bonds or other debt securities. It includes such items as assets, interest payments, maturity dates, etc. Also, see indenture.

An instrument used in many states in place of a mortgage. Property is transferred to a trustee by the borrower in favor of the lender. Upon payment in full property is conveyed to the borrower from the trustee.

Similar to a mortgage but title is transferred to a trustee pending payment of the debt.

A three party security instrument conveying the legal title to real property as security for the repayment of a loan. The three parties included in a deed of trust are the borrower, lender and trustee. - More details

A security instrument used to pledge property as collateral for the loan. Typically used in Tennessee instead of a mortgage. The deed of trust transfers the title to the property to a trustee--often an officer of the lender--who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.

A legal document, used in some states in place of a mortgage, to secure a lien on a property.

Used as a form of mortgage in some states, allowing title to be transferred to a trustee until the loan as been paid off.

An instrument that operates much like a mortgage to provide foreclosure and other security rights to a lender advancing funds against real estate collateral. Deeds of trust usually give a lender more favorable enforcement and recovery rights than would a comparable mortgage

Written instrument by which title to land is transferred to a trustee as security for a debt or other obligation. Also called Trust Deed. Used in place of mortgages in many states.

A legal document that conveys title to real property to a third party. The third party holds title until the owner of the property has repaid the debt in full.

This is a security investment which is handled by a third party Trustee such as a bank for the purpose of foreclosure in case of default.

In some states, this document is used in place of a mortgage. Property is transferred to a trustee by the borrower (trustor), in favor of the lender (beneficiary), and reconveyed upon payment in full.

lender’s security instrument signed by the borrower and recorded against the real property to secure the payment of a note

An instrument in some states in place of a mortgage. The borrower conveys legal title to a trustee who holds the title as collateral for the benefit of a lender and subsequently re-conveys the title to the borrower upon payment of the debt.

Mostly used in western states. this instrument is used to pledge the real estate as security for a the loan. Similar to a mortgage.

a document used in some states in place of a mortgage to secure payment of a loan or note.

A written, signed instrument which conveys title to property. In some states, a deed of trust is used as the security instrument in place of a mortgage. A third party holds the title to the property until the lender is repaid.

A document that gives a lender the right to sell your property if you can't repay your loan. A deed of trust is similar to a mortgage contract except that a deed of trust involves a third party called a trustee, usually a title insurance company, who acts on behalf of the lender. When you sign a deed of trust, you are in effect giving the trustee title (ownership) of the property, but holding on to the right to use and live in it. The lender or trustee holds the original deed of trust until you repay the loan on your home. Unlike a mortgage, a deed of trust also gives the lender the right to foreclose on your property without taking you to court first.

A document used which pledges real property to secure a debt. In some cases a deed of trust can replace a mortgage.

Also called an indenture, a document defining the terms of a corporation's plans to issue bonds or other debt securities.

In many states, the word mortgage is used but the security instrument whereby the property is given as security for the loan is actually a Deed of Trust. There are three parties to the instrument: the Trustor, the borrower, the Trustee, and the Beneficiary, the lender. The borrower transfers the legal title for the property to the trustee who holds the property in trust as security for the payment of the debt to the lender or beneficiary. In the event of default, the beneficiary notifies the Trustee of the default whereupon the trustee proceeds to sell the property at a public sale. Usually a lender seeks a non-judicial foreclosure where the proceeds of the sale less the costs are the lender's revenue to apply against the loan. If the proceeds from the sale are not sufficient to pay off the loan, the lender may not pursue other legal action against to collect the deficiency. In some states, a lender must seek a judicial foreclosure to recover the full amount owed.

A legal document, used in some states, that conveys title to real estate to a disinterested third party, who holds title until the owner of the property has repaid the debt; accomplishes essentially the same purpose as a regular mortgage. Also called a trust indenture or trust deed.

The document used in some states instead of a mortgage to transfer property to a trustee rather than a borrower.

Similar to a mortgage. Instrument which transfers ownership of a property from the borrower to the lender until the debt is paid in full.

A written instrument transferring bare legal title to real property to a trustee to be held as security for an obligation. Also called a trust deed. The accepted form is presented to the trustee for approval before the execution thereof by the trustor and beneficiary and before recordation. The trustee is therefore duty‑bound to perform if trustee accepts. The automatic form is the most widely used form. It contains a provision whereby the trustee named will accept duties when the trust deed is properly executed, acknowledged, and recorded and provided trustee has approved the promissory note and deed of trust. The trustee is not usually aware of the appointment until called on to act in case of default by the trustor.

In some states it is the document used in place of a mortgage; a type of security instrument conveying title in trust to a third party covering a particular piece of property; used to secure the payment of a note; a conveyance of the title land to a trustee as collateral security for the payment of a debt with the condition that the trustee shall reconvey the title upon the payment of the debt, and with the power of the trustee to sell the land and pay the debt in the event of a default on the part of the debtor.

This document, referred to as a mortgage in some states, pledges a property to a lender or trustee as security for the repayment of a debt.

A legal agreement that allows the lender to ask a title or escrow company to begin foreclosure proceedings on a property if the borrower stops paying the loan.

A document held by a trustee, who holds title to property until loan conditions are met (paid). If the borrower defaults on a loan the trustee must sell the property to pay debt. Used in some states in place of a mortgage.

An instrument used in many states in place of mortgage. Legal title to the property is vested in one or me trustees to secure the repayment of the loan.

A document, used in many states in place of a mortgage, whereby a trustee pending repayment of the loan holds title to the property.

The recorded document which secures a loan to the owner of the property. In Colorado given to the Public Trustee (second party) of the county in which the property is located for the benefit of the lender (secured party.) Similar to a mortgage.

Used in some U.S. states, the agreement used to pledge a home or other real estate as security for a loan. Similar to a mortgage.

A document, used in many states in place of a mortgage, whereby title to the property is held by a trustee pending repayment of the loan.

An instrument of conveyance of title to property wherein the transferee will be holding the title to the property on behalf on another person.

The legal instrument used in Texas in lieu of a mortgage, in which the property is conveyed in trust to a trustee to be held as security for a loan

A transfer of the title to a trustee by the trustor.

A document that is used in some states in lieu of a mortgage to secure the repayment of a loan.

a deed placed in trust by the borrower with a third party, as security for the lender

The legal document used in some states instead of a mortgage. Legally, a deed of trust conveys title to a trustee to secure repayment of the loan by the borrower. This document helps to establish both your interest and the lender's interest in the property, and to define each party's obligations.

A document used in some states instead of a mortgage to secure the payment of a loan. A trustee is named to hold the property in trust as a security for payment of the debt to the lender.

The document used in many states instead of a mortgage. Like a mortgage a deed of trust is a security instrument whereby real property is given as security for a debt. However, a deed of trust is an agreement among three parties, the trustor (the borrower), the trustee (usually a title company or bank) and a beneficiary (the lender).

A written document that grants a trustee, in the event of foreclosure, the full power to sell, mortgage and subdivide the property in question

A document used as security on a note in place of a mortgage.

A security instrument used in some states in place of a mortgage by which legal title is conveyed to one or more trustees to secure the repayment of a debt.

A document by which bare legal title is transferred to a trustee (third party) as security for a loan.