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In this tutorial, the speaker explains the deed of trust, which is a security instrument between the borrower and lender. It outlines the borrower's obligations, such as making payments, maintaining the property, and keeping insurance. It also describes the lender's rights, including the ability to accelerate payments or foreclose if these obligations are not met. The video examines a Texas deed of trust, noting its length may seem intimidating but emphasizes understanding its basic components. Key details include the date, borrower and lender information, and the inclusion of a trustee, who is responsible for foreclosure in case of non-payment.