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DEED OF TRUST Definition & Legal Meaning

Definition & Citations:

An instrument in use in many states, taking the place and serving the uses of acommon-law mortgage, by which the legal title to real property is placed in one or moretrustees, to secure the repayment of a sum of money or the performance of otherconditions. Bank v. Pierce, 144 Cal. 434, 77 Pac. 1012. See TRUST DEED.

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