What is a deed of trust?

A deed of trust is a legal document that is sometimes used in Arizona residential real estate law to secure a loan made to a homeowner. It is also known as a trust deed. When the homeowner takes out a loan to purchase a home, the lender will require the homeowner to sign a deed of trust. The deed of trust is used to give the lender a security interest in the home. This means that the lender can take legal action to take possession of the property if the homeowner fails to make loan payments. The deed of trust typically includes the following information: the borrower’s name and address; the lender’s name and contact information; the amount of the loan; the property that is being used as collateral; and the terms of the loan. It will also include language that states that the lender can foreclose on the property if the borrower fails to make their payments. In Arizona, the deed of trust is recorded in the local county recorder’s office. This makes the deed available to any person who needs to know the status of the property. The deed will remain on record until the loan is paid off or the home is sold.

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What is a deed of trust?

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