TRUST DEED
\tɹˈʌst dˈiːd], \tɹˈʌst dˈiːd], \t_ɹ_ˈʌ_s_t d_ˈiː_d]\
Definitions of TRUST DEED
Sort: Oldest first
-
a written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note
By Princeton University
-
a written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note
By DataStellar Co., Ltd
-
The most common method of financing real estate purchases in California (most other states use mortgages). The trust deed transfers the title to the property to a trustee -- often a title company -- who holds it as security for a loan. When the loan is paid off, the title is transferred to the borrower. The trustee will not become involved in the arrangement unless the borrower defaults on the loan. At that point, the trustee can sell the property and pay the lender from the proceeds.
By Oddity Software