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In this North Carolina real estate tutorial, a deed of trust is defined as a security instrument where a borrower pledges real estate as collateral for a loan. Essentially, when someone borrows money to purchase a house, they agree that if they fail to repay the loan, the lender has the right to foreclose and reclaim the property. The phrase "if you don’t pay, you don’t stay" emphasizes that the borrower will only retain ownership of the house by making timely payments. The tutorial clarifies that a deed of trust is distinct from a deed, which represents legal title to the property.