In real estate finance, a trustee is a person or entity that holds legal title to real property under the terms of a deed of trust. The trustee acts as a neutral third party between the borrower and the lender.
The trustee’s primary duties include holding title as security for the loan, reconveying title to the borrower when the debt is paid in full, and initiating foreclosure proceedings if the borrower defaults. The trustee must act in accordance with the provisions of the deed of trust and applicable law.
