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A deed of trust is a legal security instrument where a borrower pledges real estate as collateral for a loan, typically a mortgage. In simple terms, if someone borrows money to buy a house and fails to repay, the lender can foreclose on the property. It is commonly summarized by the phrase "if you don't pay, you don't stay," meaning you only retain ownership of the house while making payments. It's important to note that a deed of trust is distinct from a deed; the deed represents legal title to the property, while a deed of trust serves as security for repayment of the loan.