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Pardon me if my question is stupid. I was Googling what a Trust deed is and in one of the websites, there is the following phrase.

A trust deed—also known as a deed of trust—is a document sometimes used in real estate transactions in the U.S. It is a document that comes into play when one party has taken out a loan from another party to purchase a property. The trust deed represents an agreement between the borrower and a lender to have the property held in trust by a neutral and independent third party until the loan is paid off.

In that passage, I would like to understand the part.

The trust deed represents an agreement between the borrower and a lender to have the property held in trust by a neutral and independent third party until the loan is paid off.

Which type of institutions are the

neutral and independent third party

Are they companies within the lenders themselves (Banks), government institutions or some type of corporation that deals with this type of business?

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The neutral and independent third-party is usually a title company or attorney, https://www.bankrate.com/mortgages/deed-of-trust/.

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