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A deed of trust exists so that the lender has some recourse if you don't pay your loan as agreed. There are three parties involved in a deed of trust: the trustor, the beneficiary and the trustee. The three parties involved in a deed of trust for a real estate transaction are a: Trustor.

Definition of 'Master Mortgage' The Master Mortgage is a document created when a property is purchased for the first time. It is filed in the public land records and its purpose is to keep track of the initial mortgage and of any liens that might be associated with the property.

How can I get an extra copy of my mortgage note? If you misplaced your copy of the mortgage note, request another copy from your mortgage lender or servicer. Some lenders require you to make this request in writing. You could also try to retrieve a copy through your local recording office.

A mortgage involves only two parties: the borrower and the lender. A deed of trust has a borrower, lender and a ?trustee.? The trustee is a neutral third party that holds the title to a property until the loan is completely paid off by the borrower.

To put simply, the deed is the legal document that proves who holds title to a property, while a mortgage is an agreement between a financial lender and borrower to repay the amount borrowed to purchase a home.

Foreclosure process: Mortgages typically go through a judicial foreclosure process, through your county court system. Deeds of trust use a non-judicial foreclosure process. Length of time to foreclose: Mortgage foreclosures usually take significantly longer than non-judicial foreclosures with a deed of trust.