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Steve Schell
Steve Schell ✭✭
March 1, 2022 in Social Groups

I am new to land research. I have an ancestor in Adams Co., Illinois who has a trust deed in 1869. Can anyone explain how that is different from a deed for land? I am assuming they are not the same.

Thanks for any help!

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  • embakly
    embakly ✭
    March 2, 2022

    Hi Steve,

    I found a bit about trust deeds on Investopedia. It explains that Trust Deeds are created when one party of the transaction needs to take out a loan from a separate party in order to purchase the property. The trust deed is basically an agreement between the borrower and the loan lender stating the property is held by a neutral third party until the loan is paid.

    Trust deeds are less common now but will pop up quite a bit in Alaska, Arizona, California, Colorado, Idaho, Illinois, Mississippi, Missouri, Montana, North Carolina, Tennessee, Texas, Virginia, and West Virginia. A few states (Kentucky, Maryland, and South Dakota) use both trust deeds and mortgages.

    Hope this helped!

    ~Emily

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  • Steve Schell
    Steve Schell ✭✭
    March 21, 2022

    Thanks, Emily, it does help a lot! I was having trouble finding my old discussions and just found this today!

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