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Joe from Prep Agent discusses trustees and the three parties involved in trust deeds: trustor, trustee, and beneficiary. Trust deed usage varies by state, so check local laws. The trustor is someone who wants to buy a house but lacks funds. They approach a bank for a loan. The trustee acts as a neutral third party responsible for managing the trust deed, while the beneficiary is the party who benefits from the trust deed. Remembering these three parties is crucial in understanding trust deeds.
