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Deed of Trust Template - What Is a Deed of Trust and What Is It Used For?

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The deed of trust is a sort of a binding agreement that takes place between the lender and the borrower. This is used to primarily transfer the ownership of a borrower's property to a neutral third party. The third party is legally known as the trustee. The main purpose of this transfer is to see to it that payment of a debt taken by the person.

How does a deed of trust function?

The deed of trust typically involves three parties - the lender, borrower and a trustee. Based on the deed the borrower can transfer the right of ownership to his/her property to the trustee in order to secure a loan taken from the lender. The ownership of the property is then transferred back to the borrower if they repay the loan as given in the clause. If the loan is not repaid, the trustee can liquidate or sell the property and use the money to repay the loan. Here are some pointers which you will have to bear in mind when preparing your deed of trust.

One Difference Between a Mortgage and Deed of Trust is that three parties will be involved in this document, a trustee the lender, the borrower. On the other hand in a mortgage document two parties are involved, the lender and the borrower.

The Cash for Deed Of Trust is a sort of a tool which secures a debt, the repayment of the mortgage/ loan encumbered by real property. It is a sort of a three party document; the beneficiary (lender), the borrower and the trustee.

The Deed Trust Records is a deed in which the trustee gets the title of the real property which is held in the form of a security for a loan between a lender and the borrower. The unbiased title remains with the borrower.

Last but not the least, the promissory note that contains a written promise to pay a person who has been named in the note a specified sum of money or the bearer is a signed document.

You can easily prepare your deed of trust by sitting in front of your computer from the comforts of your home or office as there are many blank forms that are available on the internet and free to Download. Alternatively, you can also make use of the many free to use Template to prepare your deed of trust.