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Rhode Island Deed of Trust Form

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A Rhode Island deed of trust conveys a property title from a person acquiring real estate financing to a “trustee” as a means to secure a loan from the financier. The title remains under the trustee’s name (often a title company or bank) until the borrower’s obligation to the lender is settled, upon which they are returned their title. Defaulting on the agreement can subject the property to a non-judicial foreclosure, a process wherein the property is seized without going through the court system. Deeds of trust are similar to mortgages, with the difference being that deeds of trust involve a borrower, a lender, and a trustee, whereas mortgages only involve the borrower and lender.

Related Forms (1)

Rhode Island Promissory Note – A written agreement containing the terms and details of a loan.

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