When owning a home it is important to be familiar with and understand the different terms and documents that are used in matters of real estate law. These documents vary state to state and it is wise to do significant research into the real estate law of your state before buying a home. The most common difference of real estate documentation is, if the state uses mortgages or a Deed of Trust.
A Deed of Trust is much like a mortgage expect for two main differences. The Deed of Trust involves three parties and makes the process of foreclosure quicker and easier.