Real Estate Glossary

Deed of Trust

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Richard Wilson
Written by Richard Wilson

This is an agreement between a borrower and a lender wherein the mortgaged property is conveyed to a third neutral party to be utilized as collateral while there is an outstanding mortgage. The third party is usually a title company. In this arrangement, the borrower still holds the equitable title. The lender, on the other hand, holds the legal title.

This is an agreement between a borrower and a lender wherein the mortgaged property is conveyed to a third neutral party to be utilized as collateral while there is an outstanding mortgage. The third party is usually a title company. In this arrangement, the borrower still holds the equitable title. The lender, on the other hand, holds the legal title.

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Richard Wilson

Richard Wilson

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