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In this video, Paul Vojchehoske introduces the concept of a deed of trust, also known as a trust deed, which varies by region. He emphasizes that a deed of trust is closely related to a promissory note and a mortgage, which he previously covered in another video. Viewers are encouraged to watch the prior video for better understanding, and a link to it is provided. Paul then transitions into a detailed discussion about deeds of trust, setting the stage for further explanation on the topic.