The HSH Mortgage Glossary D-E
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The Mortgage Glossary Index:
Deed Of Trust
Used in place of a mortgage in some states. The deed to a property is held by a trustee (title company or other third party) with the condition that it will be conveyed to the borrower when the mortgage is paid off.
Funds deposited with a third party to be delivered upon the fulfillment of a condition. A special account created to hold money for taxes and insurance, or to hold deposit money prior to closing.
The total of all the real property and personal property owned by an individual at time of death.
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