“Deed of Trust”
Definition: A deed of trust in the nature of a
mortgage is a conveyance in trust by way of security, subject to a
condition of defeasance, or redeemable at any time before the sale of the
property. A deed conveying land to a trustee as mere collateral security
for the payment of debt, with the condition that it shall become void on
the payment of the debt when due, and with the power to the trustee to
sell the land any pay the debt in case of default on the part of the
debtor, is a deed of trust in the nature of a mortgage.
