An Alaska deed of trust is a document that transfers a real estate title from a grantor (“trustor” or “borrower”) to a third party (“trustee”) to retain as collateral for a loan issued by a lender (“beneficiary”). The trustee holds the title until the grantor satisfies their debt obligations to the lender, after which the title reconveys to the grantor. A key difference between a deed of trust and a mortgage is what occurs in the event of a loan default. If the grantor fails to refund the loan under a deed of trust, the trustee may seize the property through a non-judicial foreclosure and later sell it without a court order. A mortgage default, on the other hand, generally requires a judicial foreclosure. 

Related Forms (1)

Alaska Promissory Note – A legal contract that serves as a “promise” to pay a sum of money back to the party that lent it.

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