The Deed of Trust is
the security for payment of the loan and creates a lien on the property when
recorded with the county. The lender is the deed's beneficiary and through it is
given the right to take the property and sell it for the value of the loan if
payments are not timely. As long as the note payments are made as they become
due, the borrower retains possession of the property and legal title to it.
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 re-conveyed upon payment in full
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The deed of trust form can be used for
investment, lending, assignment of rent, leasehold and property transfer.
Apart from investing, it can also be used in a situation involving a sale
and a buyer. Its use is common in major US cities such as Los Angeles and
San Diego. A sample secured deed of trust note, whether first or
second, must have a recorded signature of the parties involved to
undergo an all inclusive modification. This legal form is available
for all states including California, Texas, Dakota, Nevada and Missouri.
See also release agreements.
