n. A legal document that pledges real property in order to secure a loan. This deed is used in place of a mortgage in the following states: Alaska, Arizona, California, Colorado, Georgia, Idaho, Illinois, Mississippi, Missouri, Montana, North Carolina, Texas, Virginia, and West Virginia. The title holder (trustor) deeds the property to a trustee which then holds the title in trust for the lender of the money (beneficiary). The trustor requests the title’s return by reconveyance from the trustee when the loan has been fully paid. The beneficiary can file a notice of default if the loan become delinquent. If the loan is not brought current, the beneficiary can demand that the trustee initiate foreclosure on the property so that they can obtain title or be paid.