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Joe from Prep Agent discusses the role of a trustee in real estate transactions, highlighting that not everyone needs to understand this concept as its usage varies across states. He explains the three key parties involved in a trust deed - trustor, trustee, and beneficiary - using a simple real-life example. The trustor is the individual seeking a loan to buy a house, while the trustee holds legal ownership of the property on behalf of the beneficiary. It is crucial to understand the roles of these parties in a trust deed agreement.
