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

A trust deed and a deed of trust are two documents involved in the transfer of real property (such as a house) in Maryland. In both cases, they are contracts between a seller and a buyer, and they contain information about the transfer of property rights. The main difference between the two documents is that the trust deed transfers the rights to the buyer immediately, while the deed of trust transfers the rights to a third party trustee. The third party trustee is responsible for holding the property for the buyer and ensuring that the seller receives full payment before releasing the rights to the buyer. The trust deed also requires the seller to prove certain facts before the transfer is completed. Some of these facts include the seller’s identity, proof that the title is valid, proof of any liens, and proof that the funds are available to complete the transaction. This is all to ensure that the buyer receives a sound title to the property. Meanwhile, the deed of trust is used in cases where the buyer is unable to make a full payment in one lump sum. In this case, the third party trustee holds the property until the buyer can make full payment. The trust deed allows the seller to receive payment over a period of time, while also protecting their interests until the buyer has fully paid. In Maryland, both the trust deed and the deed of trust are necessary for the sale of real property. The key difference is that the trust deed transfers the rights of the property to the buyer right away, while the deed of trust holds the property with a third party trustee until the buyer has made full payment.

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