This section provides policies that apply to promissory notes, contracts for deed and other property agreements. 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.A mortgage and a deed of trust are both legal documents that create a lien on the real property, but they are structured differently. A deed of trust is a document that you sign for buying a home. To execute a Deed of Trust properly, the parties need to sign in the presence of a notary public. To obtain a deed of trust, the trustor must give the beneficiary one or more promissory notes.