NOUN
- a written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note
How To Use deed of trust In A Sentence
- When you sell the property, be sure to have the buyer pledge the property as collateral by signing a Deed of Trust.
- If the lender forecloses the deed of trust out of court, the lender has chosen one action and may not bring a lawsuit to recover a deficiency, which would be a second action.
- A creditor holding a purchase money mortgage or deed of trust on residential property must foreclose on the property, and cannot recover any deficiency.
- All the said bonds with the interest accruing thereon shall stand secured equally and ratably in the said deed of trust, without reference to the date of their issue. Board of Visitors minutes
- The piece of paper that documents this pledge is usually called a mortgage or a deed of trust.
- The person designated to receive the income from a trust, estate, or a deed of trust.