A deed of trust is the document that secures a loan against real property in Tennessee and many other states, naming a neutral trustee who holds the power to sell the property if the borrower defaults, without going through court. It serves the same purpose a mortgage does in states that use that document instead, and it is what makes a non-judicial trustee's sale possible.
Why it matters
The deed of trust on a house, not a separate court process, is usually what lets a Tennessee lender foreclose.
General information, not legal or tax advice.