What is "deed of trust"

n. a written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note [syn: trust deed]

In real estate in the United States, a deed of trust or trust deed is a deed wherein legal title in real property is transferred to a trustee, which holds it as security for a loan ( debt) between a borrower and lender. The equitable title remains with the borrower. The borrower is referred to as the trustor, while the lender is referred to as the beneficiary.