A Deed of Trust is essentially an agreement between a lender and a borrower to give the property to a neutral third party who will serve as a trustee. The trustee holds the property until the borrower pays off the debt. During the period of repayment, the borrower keeps the actual or equitable title to the property and maintains full responsibility for the premises, unless expressly stated otherwise in the Deed of Trust. The trustee, however, holds the legal title to the property.
A promissory note is required to be signed by the borrower in addition to the deed of trust to secure a loan on real property.
This file contains instructions of how to fill out the form, a sample of a filed out form, a practice form and an original form in four different formats.