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A deed of trust is a legal security instrument in which a borrower pledges real estate as collateral for repayment of a promissory note to a lender. In simpler terms, it means that if someone borrows money to buy a house and fails to repay, the lender has the right to foreclose on the property. This concept is often summarized as "if you don’t pay, you don’t stay," emphasizing that the borrower retains ownership of the house only while making payments. Additionally, it's important to note that a deed of trust is not the same as a deed; a deed represents legal title to the property.