What is the difference between a trust deed and a deed of trust?

In Alaska, a trust deed and a deed of trust are two different types of legal documents that are used to define the inheritance of property. A trust deed is a document that is used to transfer ownership of a piece of property or other asset from one party to another. The trust deed creates a legal trust that holds the property in the name of the beneficiary until the terms of the trust deed are completed. A deed of trust is similar to a trust deed, but it provides a different type of security for the property. A deed of trust is a legal document that gives a third party, such as a bank or other financial institution, the right to hold the property as collateral for a loan. The terms of the deed of trust state that if the borrower defaults on the loan, the creditor has the right to take possession of the property as repayment for the loan. In summary, the key difference between a trust deed and a deed of trust is that a trust deed is used to transfer ownership of a piece of property, while a deed of trust is used to secure a loan. The both provide a way for property to be passed down to heirs through an inheritance, but with different mechanisms.

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