deed of trust
noun[C]
ukuspluraldeeds of trustLAWUS
alegalagreementin which someoneborrowingmoneyallowsanotherpersoncalled atrusteeto be theowneroftheirpropertyorassetsuntil theypayback theloan. If themoneyis notpaidback, thetrusteecanselltheproperty:
Thecorporationhadloanedhim $1 million through a seconddeedoftruston theproperty.
(alsotrust deed)
alegaldocumentthatcreatesatrust(= anorganizationwhichcontrolspropertyormoneyfor anotherperson):
Weboughtit through adeedoftrust, in which mymotherhas 60shares, and the four of us have 10 each.