Deed Of Trust

Business, Legal & Accounting Glossary

Definition: Deed Of Trust




What is the dictionary definition of Deed Of Trust?

Dictionary Definition


n. a document which pledges real property to secure a loan, used instead of a mortgage in Alaska, Arizona, California, Colorado, Georgia, Idaho, Illinois, Mississippi, Missouri, Montana, North Carolina, Texas, Virginia and West Virginia. The property is deeded by the title holder (trustor) to a trustee (often a title or escrow company) which holds the title in trust for the beneficiary (the lender of the money). When the loan is fully paid, the trustor requests the trustee to return the title by reconveyance. If the loan becomes delinquent the beneficiary can file a notice of default and, if the loan is not brought current, can demand that the trustee begin foreclosure on the property so that the beneficiary may either be paid or obtain title.


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https://payrollheaven.com/define/deed-of-trust/
Modern Language Association (MLA):
Deed Of Trust. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 22, 2021 https://payrollheaven.com/define/deed-of-trust/.
Chicago Manual of Style (CMS):
Deed Of Trust. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/deed-of-trust/ (accessed: September 22, 2021).
American Psychological Association (APA):
Deed Of Trust. PayrollHeaven.com. Retrieved September 22, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/deed-of-trust/

Definition Sources


Definitions for Deed Of Trust are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th April, 2020 | 0 Views.