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Joe from Prep Agent discusses the concept of a trustee, which varies in importance by state. Trust deeds involve three key parties: trustor, trustee, and beneficiary. The trustor is the individual seeking to purchase a house but lacks funds. The trustee is the intermediary who holds legal title to the property until the loan is paid off. Finally, the beneficiary is the lender who provides the funds. Understanding the roles of these parties is crucial in real estate transactions.
