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In this tutorial, Joe from Prep Agent discusses the concept of a trustee, emphasizing its varying relevance across different states. He highlights that understanding trustees is crucial for those who need it and presents a simplified explanation. Joe outlines the three parties involved in a trust deed: the trustor, trustee, and beneficiary. The trustor is typically an individual seeking to purchase a house but lacking sufficient funds, prompting them to reach out to a bank for a loan. This foundational understanding of the roles within a trust is essential for grasping the broader implications of trust deeds. Joe advises checking local state regulations for further clarity on the matter.