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Joe from Prep Agent discusses the concept of a trustee in real estate. Not everyone needs to know about trustees, as it varies by state. Trust deeds involve three parties: trustor, trustee, and beneficiary. The trustor is someone who wants to buy a house but doesn't have enough money, so they go to the bank for a loan. The trustee holds the legal title to the property and acts on behalf of the beneficiary. It's important to understand the roles of each party in a trust deed.
