First Deed Of Trust (or First Mortgage) Financial Glossary

What is it? In order to protect the rights of the lender and the borrower, liens on real estate are usually recorded in the county where the property is located. A deed of trust or mortgage typically becomes a lien against the property when it is recorded, and this record typically establishes the priority of liens if the property is sold for any reason. The loan with first rights is the First Deed of Trust or First Mortgage (see Deed of Trust, Mortgage).

Finance Term Definition Added By: Cole

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