Trust Deed Legal Meaning and Definition

Here is a simplified definition of the legal term Trust Deed.

Trust Deed (noun)

A Trust Deed is a legal document that transfers the title, or ownership, of an property or asset to a third party, known as a trustee. This transfer is not permanent but is held until the original owner or borrower repays a certain debt. This agreement primarily serves to protect the lender. In some locations, a trust deed functions similarly to a mortgage.