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A Deed of Trust is a legal document similar to a home mortgage. It guarantees a real estate transaction between a lender and a borrower. A Deed of Trust definition is most easily expressed as an agreement between a borrower, a lender and a third party known as the Trustee.

A deed of trust is a type of secured real-estate transaction that some states use instead of mortgages. See State Property Statutes. A deed of trust involves three parties: a lender, a borrower, and a trustee. The lender gives the borrower money. In exchange, the borrower gives the lender one or more promissory notes.

While Washingtonians colloquially reference ?mortgages? when describing their home loans, the legal instrument that encumbers their property in Washington is more precisely a ?deed of trust.? A deed of trust is not (in the commonly-held sense) a ?deed,? in which a seller conveys title in real estate to a buyer.

Recording (RCW 65.08. 070) ? All deeds must be delivered and submitted to the County Recorder's Office (See List of Counties) in the jurisdiction of the property. Signing (RCW 64.04. 020) ? All deeds must be signed with the Grantor(s) in the presence of a Notary Public.

Deed of Trust and Promissory Note for Real Estate Located in Washington. A deed of trust (DOT), is a document that conveys title to real property to a trustee as security for a loan until the grantor (borrower) repays the lender ing to terms defined in an attached promissory note.

A deed of trust is often used when state law requires it or when a traditional lending service (like a bank) is not involved in the transaction. Whether you have a deed of trust or a mortgage, they both ensure that the borrower repays the loan, either to a lender or an individual person.