Trust Deed (Noun)
Meaning
A written instrument legally conveying property to a trustee often used to secure an obligation such as a mortgage or promissory note.
Classification
Nouns denoting communicative processes and contents.
Examples
- The borrower was required to sign a trust deed to secure the loan against their property.
- A trust deed was used to pledge the company's assets as collateral for the business loan.
- In exchange for the mortgage, the homeowner signed a trust deed agreeing to the repayment terms.
- The trust deed clearly outlined the obligations and terms of the loan and mortgage agreement.
- A trust deed is often used when purchasing a home, allowing the seller to maintain ownership until full payment is made.