A Washington Deed of Trust is a legal document used in Washington State to secure a loan on a real estate property. The deed of trust is signed by the borrower (trust or) and the lender (beneficiary) and involves three parties: the trust or, the beneficiary, and the trustee. The trust or conveys title to the trustee, who holds the title as security for the repayment of the loan. The deed of trust serves as evidence of the debt and identifies the trust or’s obligation to repay the loan. There are two types of Washington Deeds of Trust: a traditional deed of trust and a statutory deed of trust. A traditional deed of trust is created in a private transaction between the trust or and the beneficiary, while a statutory deed of trust is created under Washington State law. The statutory deed of trust is the most commonly used deed of trust in Washington State. Both types of deed of trust give the trustee the authority to sell the property if the trust or defaults on the loan.
Washington Deed of Trust
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