What are the Warranty Deed, the Deed of Trust and the Promissory Note?

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Accepted Answer

The Warranty Deed transfers ownership to you and is recorded with the county: it is what makes you the owner. The Promissory Note is your commitment to pay the financed balance. The Deed of Trust is the lien that secures that balance with the land, exactly like a bank mortgage. Once the balance is paid, the lien is released and only your deed remains.