the borrower (also known as the trustor), the lender (also known as the beneficiary), and a neutral third party (also known as the trustee). The borrower conveys ownership of the property to the trustee, who holds the property in trust as collateral for the loan. If the borrower defaults on the loan, the lender can foreclose on the property and sell it in order to recover their money.
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What does deed of trust mean?
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