deed of trust


Also found in: Dictionary, Thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia.

Deed of trust

Indenture

A contract for a bond. An indenture sets the terms of the bond; for example, it includes the coupon rate, the period until maturity, and whether the bond comes with any special features like convertibility or whether it is callable. All bonds must have an indenture. Indentures are usually summarized in a bond's prospectus.

Trust Deed

1. In real estate, an agreement in which the title to the property is held in a trust until the mortgage is paid. A trust deed is not given to the homeowner in order to provide an extra amount of security for the lender; the trustee for a trust deed does nothing except in the event of default, in which case the trustee sells the real estate.

2. An agreement stating the terms of a trust. A trust deed is most common when mutual funds are held in trust, and outlines the responsibilities and restrictions on the fund.

deed of trust

A security instrument used to grant rights in real property to a lender. It is used in some states; other states use mortgages to accomplish the same goal.With a deed of trust, title to the property is transferred to a trustee,who holds it in trust for the borrower's benefit until such time as the loan has been paid in full. At that time, the trustee will transfer legal title back to the borrower by way of a deed of reconveyance.If there is a default and foreclosure,it is the trustee who conveys the property to another.

References in periodicals archive ?
In the event of any explicit contradiction between the provisions of the present amendment and the provisions of the deed of trust or its first addendum, the provisions of the present amendment shall take precedence.
The rest of the conditions of the deed of trust shall remain valid and unchanged.
We insured a first (refinancing) deed of trust for $98,000, against a home on Albion Lane in Longmont, Colorado.
The collateral for the debentures, which had consisted of the deed of trust on Ramtron's corporate headquarters facility, certain of Ramtron's accounts receivable and intellectual property, has been released with the debt retirement.
The certificates evidence 100% of the beneficial ownership interest in a trust fund, which consists of 24 mortgage loans secured by either a first mortgage or deed of trust lien on the fee simple ownership interest in the land underlying manufactured home and/or recreational vehicle communities.
The 'AA' rating on the 2006B COPs reflects that the projects included in the 1996 deed of trust are not part of a core governmental function, somewhat increasing appropriation risk.
34 million in cash to satisfy the current maintenance and replacement fund requirement of its mortgage and deed of trust.
As additional security for certificate holders, pursuant to a deed of trust the county conveys the middle school and the land on which it is located to the trustee for the benefit of the company.
The projection includes anticipated pension bond issues and debt service on a $300 million note from the city to the municipal employees pension system that is secured by a first lien deed of trust in the city's convention center hotel.
The county's payments are subject to annual appropriation and are further secured by a deed of trust granting a first lien on the county's newly constructed government center and social services building to the corporation for the benefit of certificateholders.