Define note and trust deed

A note commonly known is written to repay a loan as a "ticket" a promise. A deed of trust is a document used to secure the repayment of a loan by registered as a borrower against real estate lien. NoteWhenever borrower's note loans you money - even on their family or friends - give is a good idea to use a ticket to avoid future disputes. The ticket must specify the basic terms of the loan: amount, interest rate (if applicable) and repayment terms. Borrowers sign and date must be valid note.Unsecured Notea ticket is valid, even if it no security for the loan that typical for small quantities between family or friends.Secured Notea ticket must be backed up if loan and the repayment to extend terms for more than a year be borrowed a large amount of money. All transactions in real estate with a loan, a ticket is provided by the asset involved. In most countries used security document is called a mortgage, but a confidence DeedA is used in some States like California, the document deed.Trust Act of confidence is a document of the three parties with a depositary (the borrower), a recipient (the lender) and a trustee (a neutral third party, usually a company title). Trust identified fact three parties the basic terms of the loan, is signed by the borrower. It is saved as privilege against property.Loan not guaranteed borrowers DefaultWith note, only use of the lender if the borrower fails to repay the loan is to produce a legal action. With a note secured by a deed of trust lenders may direct the treuhänder, repay the loan the borrower's property for sale - it is in the TatEBU other locks. Any legal action is necessary with other lock which restore it cheaper and faster way, the loan as the filing of an action.