What’s the difference between a Grant Deed and Deed of Trust?

Grant Deed:

It is used to transfer title of real property. This is done at the time of purchase and can be later recorded to add or remove individual’s names after purchase. It’s is known as the “title” document. 

Deed of Trust:

Is a loan document given at the time of purchase resulting in an obligation to pay the loan or foreclosure may result. The Deed of Trust is also recorded when refinancing.