What is a deed of trust?

A deed of trust is a legal document that is used in real estate transactions in the state of Delaware. It states the terms and conditions of a mortgage agreement between the borrower (the mortgagor) and the lender (the mortgagee). It includes the amount borrowed, the interest rate, and other details about the loan. The deed of trust also provides security for the lender in that it grants a lien on the property securing the loan, which means that the lender has a right to the property until the loan is paid in full. If the loan is not paid, the lender can foreclose on the property using the deed of trust and take it back. The deed of trust is created when the borrower signs it and the lender gives their permission. It is then filed with the county in which the property is located and becomes part of the public record. This document serves as an important legal document when it comes to real estate transactions in Delaware and is often used to protect both the borrower and the lender.

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What is a deed of trust?

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