deed of trust

Noun

Meaning

a written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note

Synonyms

Hypernyms

Examples

A legal term applied to any of the various methods of enforcing payment of the debt secured by a mortgage, or deed of trust, by taking and selling the mortgaged property, and depriving the mortgagor of possession. Source: Internet

Because of the “power of sale” clause in the deed of trust, the lender can hire a third party to auction the house and skip the expense of going to court. Source: Internet

If the lender includes a “power of sale” in the deed of trust, it means the foreclosure process can be initiated non-judicially. Source: Internet

The defaults referred to in Paragraph III must be cured by 11/9/2020 (11 days before the sale date), subject to the terms of the Note and Deed of Trust, to cause a discontinuance of the sale. Source: Internet

The sale will be discontinued and terminated if at any time before 11/9/2020 (11 days before the sale), subject to the terms of the Note and Deed of Trust, the default as set forth in Paragraph III is cured and the Trustee’s fees and costs are paid. Source: Internet

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