Deed

===Deed of trust===
In some jurisdictions, a [[trust deed (real estate)|deed of trust]] is used as an alternative to a [[Mortgage law|mortgage]].<ref>{{Cite web |title=deed of trust |url=https://www.law.cornell.edu/wex/deed_of_trust |access-date=2024-02-15 |website=LII / Legal Information Institute |language=en}}</ref> A deed of trust is not used to transfer property directly. It is commonly used in some states — California, for example — to transfer title to land to a “trustee”, usually a trust or title company, which holds the title as security ("in [[escrow]]") for a loan. When the loan is paid off, title is transferred to the borrower by recording a release of the obligation, and the trustee's contingent ownership is extinguished. Otherwise, upon default, the trustee will liquidate the property with a new deed and offset the lender's loss with the proceeds.