The Deed of Trust is a legal document used in real estate transactions. It is a binding agreement between three parties: the lender, the borrower, and a neutral third-party trustee (often a notary or escrow agent).

The Deed of Trust provides the lender with a security interest in the property, allowing the trustee to take control of the property in case of default by the borrower.

Trust deeds are recorded in public records to ensure transparency and accountability.

A Promissory Note is a legal document that states the borrower’s obligation to the lender and promises to fully repay the loan (including principal and interest) by a specific date.

The Promissory Note clearly outlines the terms agreed upon and provides detailed information about the loan.

An Amortization Schedule is a repayment plan for a loan that typically breaks down each installment into principal and interest portions. It also specifies the remaining loan balance after each payment.