Trust Deed


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Trust Deed

A legal document that evidences an agreement of a borrower to transfer legal title to real property to an impartial third party, a trustee, for the benefit of a lender, as security for the borrower's debt.

A trust deed, also called a deed of trust or a Potomac mortgage, is used in some states in place of a mortgage.

trust deed

n. another name for a deed of trust, a form of mortgage used in some states, in which title is transferred to a trustee to protect the lender (beneficiary) until the loan is paid back. (See: deed of trust)

References in periodicals archive ?
A spokesperson for Scottish Trust Deed (Simple Financial Solutions) commented by saying; "Our decision to join the Debt Resolution Forum will enhance our business model and show our dedication to compliance.
If, and only if, the funds yielded from the trustee's sale are insufficient to cover the deficiency between the amount due and owing on the underlying obligation, should the lender file an action to recover "the balance due upon the obligation for which the trust deed was given as security .
Our role concerns the amendment of the trust deeds in relations to the sale.
We enthusiastically embrace this alliance--not only for the opportunity it presents, but because there is such a good cultural fit between our companies," said Scott Myers, president and chief executive officer of Standard Trust Deed.
And we account for $23 million of that," his son says, referring to the trust deed purchases involving Florence residents and the Huntingdons' friends and family.
V and Clearstream Banking, societe anonyme, on a timely basis and in accordance with the provisions of the Trust Deed.
He added that permission to sell land and property was included in the trust deed at the insistence of the Charities Commission.
The Trust Deed would also set out how the remainder of the net proceeds of sale would then be divided between the co-owners and this can reflect the contributions which each owner is intending to make to the mortgage and running costs during ownership of the property.
Under the trust deed Contact has agreed to meet all of the trustee's costs associated with Contact Share.
supplemented by a Second Supplemental Trust Deed dated 10 September 2001
With more than $50 million in trust deed collections, the Hanford Group has four divisions: Hanford Home Loans Co.
Rana further added, "We launched the Trust Deed Gallery Exchange pilot web site www.