<P> 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 . </P> <P> Transactions involving deeds of trust are normally structured, at least in theory, so that the lender / beneficiary gives the borrower / trustor the money to buy the property; the borrower / trustor tenders the money to the seller; the seller executes a grant deed giving the property to the borrower / trustor; and the borrower / trustor immediately executes a deed of trust giving the property to the trustee to be held in trust for the lender / beneficiary . In reality, an escrow holder is always used so that the transaction does not close until the escrow holder has the funds, grant deed, and deed of trust in their possession . This ensures the transaction can be easily rescinded if one party is unable to complete its part of the deal . </P>

Who holds title in a deed of trust
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