Modification of the Deed of Trust. Modifying Promissory Note and Deed of Trust.Virtually all mortgages in the US have a "dueonsale" clause to protect the bank from property transfers without their permission. To transfer real estate (also called real property) into your living trust, you must prepare and sign a new deed, transferring ownership. A deed of trust, also called a trust deed, is the functional equivalent of a mortgage. Put all the debt in a single deed of trust or mortgage. When cross-collateralizing, consider citing all the debt in a new or deed of trust or mortgage. Learn the difference between a trust deed and a mortgage. View full legal information from LegalMatch's online law library today. 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.