A Deed of Trust Document is a legally binding agreement between three parties: the Trustor (the borrower), the Beneficiary (the lender or creditor) and the Trustee (an impartial third party). In essence, it is a document that outlines the terms of an agreement for the repayment of a loan. It outlines the conditions under which an individual is willing to put up their property as collateral for a loan. The deed also outlines how and when the trustor has to repay the loan, what will happen if they default on their loan, and how the Beneficiary can take ownership of the trustor’s assets in the case of default. By signing this document, all parties are agreeing to abide by its terms.