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In this video tutorial, Joe from Prep Agent discusses the concept of a trustee in real estate transactions. Not everyone needs to be familiar with trustees, as their role varies by state. Trust deeds involve three parties: trustor, trustee, and beneficiary. The trustor is an individual seeking a loan from a bank to purchase a house. The trustee holds legal title to the property on behalf of the beneficiary. It is essential to understand these three parties in trust deeds.