A Michigan deed of trust is a real estate document used in conjunction with a promissory note to place a property title in a trust. When you take out a loan to purchase a home, you'll probably have to sign two documents: a promissory note and a mortgage (or deed of trust).A Deed of Trust is typically used in combination with a Promissory Note or Mortgage Agreement which sets out the amount and terms of the loan agreement. To obtain a deed of trust, the trustor must give the beneficiary one or more promissory notes. Which states are mortgage states and which are deed of trust states including a table showing this information for each state. A register of deeds shall not record an instrument executed after April 1, 1997 if the instrument purports to evidence more than 1 recordable event. While the buyer is paying off the home, the lender will keep the promissory note, whereas the buyer only gets to keep a copy for their records.