deed of trust
Property lien document
A deed of trust is a legal document used in real estate transactions where a borrower transfers property title to a neutral third party (trustee) as security for a loan.
If the borrower defaults, the trustee can sell the property to repay the lender without going through court foreclosure.
Common in many U.S. states as an alternative to a traditional mortgage: The lender required a deed of trust on the property.
- lenderOne who loans money
- mortgageSecured home loan
- first lienHighest-priority security interest
- second mortgageSubsequent lien on property
- lienClaim securing debt
contract · promissory note · foreclosure · collateral · encumbrance · reconveyance · default · refinancing · borrower · trustor · grantee · legal document · loan · fiduciary duty · homeowner · power of attorney · equity · real estate
deed of trustunsecured loan
Debt lacking pledged property
personal loan · signature loan · unsecured debt · unsecured credit · credit card debt