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Q.What's a trust deed?

A.A trust deed (a.k.a. deed of trust), isn't used to transfer property at all. In fact it is actually a type of mortgage and is very common in California. In California when you get a mortgage, the escrow company will prepare a "Deed of Trust" which transfers title to the property being mortgaged to a "trustee," usually a trust or title company, which holds the land as security for the home loan. When the loan is paid off, title is then transferred back to the property owner. The trustee has absolutely no power unless and until the borrower defaults on the loan; then the trustee can use its power of sale to sell the mortgaged property and pay off the loan from the proceeds of the sale, all without going to court.




Copyright 1999-2018 Melissa C. Marsh. All Rights Reserved. All Information on this website is subject to a Disclaimer and Use Agreement. This information is provided as general information only and should not be construed as legal advice. We advise you to seek the advice of competent legal counsel to address your own specific questions, facts and circumstances.