What is a deed of trust?

A deed of trust is a type of legal document that is used in the real estate industry in Massachusetts. It is an agreement between a borrower and a lender that establishes the terms of ownership and use of a property. The deed of trust is a written document that is signed by the borrower and the lender and recorded with the local government. The deed of trust grants the lender a lien on the property, which is basically a type of legal security or collateral that can be used to ensure that a borrower makes their payments. It also gives the lender the right to foreclose on the property if the borrower defaults on their loan. The deed of trust also outlines the rights and responsibilities of the borrower and the lender in the transaction. It states the amount of the loan, the interest rate and any other fees or costs associated with the loan. It also outlines the length of the loan, any prepayment penalties and any other relevant information. In short, a deed of trust is an important document in the real estate industry in Massachusetts. It outlines the rights and responsibilities of the borrower and the lender in the transaction and gives the lender a lien on the property as collateral to ensure that payments are made on time.

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What is a deed of trust?

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