Definition of Deed of Trust?

Answer

In Texas, a Deed of Trust is a financial document that is used in real estate business transactions. It has three parties, namely the borrower, the trustee and the beneficiary (lender of the loan). It is usually more or less the same as a mortgage.
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What Is a Deed of Trust in Texas?
When a person purchases real estate, the seller signs a deed that transfers ownership. If the buyer borrows money, he must sign a legal document from the bank or other lender who is providing the loan for the property. Most states call the loan document... More »
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Q&A Related to "Definition of Deed of Trust?"
Unlike a mortgage, where there are two parties, the borrower and the lender, there are three parties to a deed of trust. Texas is a "title theory" state, which means that
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A trust deed is a document where specific interest in the title to real property is transferred to a trustee. The trustee holds is as security for a ,loan or debt between two other
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It a declaration that you have received independent advice regarding your trust and are opening one of your own free will. In regards to a financial institution, it free the financial
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A deed of trust is a written instrument legally conveying property to a trustee
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