Definition
A security instrument used in many states in place of a mortgage, involving a trustee who holds title until the debt is repaid.
Example
In deed of trust states, non-judicial foreclosure is typically faster than judicial foreclosure.
Related terms
- Abstract of Title
- Adverse Possession
- Affidavit of Title
- Certificate of Occupancy
- Chain of Title
- Cloud on Title
Frequently asked questions
What does Deed of Trust mean in real estate?
A security instrument used in many states in place of a mortgage, involving a trustee who holds title until the debt is repaid.
How is Deed of Trust used in practice?
In deed of trust states, non-judicial foreclosure is typically faster than judicial foreclosure.
This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.