Most real estate transactions involve three legal documents. The General Warranty Deed is the legal document through which someone acquires ownership of property. A Promissory Note is a borrower's promise to repay the loan they took to buy the house. The Deed of Trust is a real estate legal document that secures the buyers’ promise to repay the Promissory Note with the house. Therefore, if the buyer defaults on the Promissory Note, then the lender can foreclose on the house through the legal terms of the Deed of Trust.

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