demosL,
I see the issue already.
You said:
" I just looked at my own deed of trust"
And in this statement, lies the problem.
Not a big deal, we can help you here.
First, when you are reading about ‘subject to’ transactions, when the books mention a ‘deed’, they are talking about a document that transfers ownership rights (title), to another party.
Now, the TRUST DEED you mention would be what secures the debt you owe to the lender, to the title of your house.
Kind of like a mortgage, just a different legal instrument that accomplishes the same thing…
So, for clarification:
A Deed of trust is:
“A document executed by the owner of land by which the land is given as security for the payment of a note or other performance of an obligation. In California and some other states the Deed of Trust is usually used in place of a mortgage.”
A DEED: is merely a document used to transfer insterest (title) to/in a property from one person to another.
Some common “deeds”, would be:
Quit claim deed: This merely relinquishes any right or title in a property someone may have, but does not warrrant title condition.
A warranty deed: This deed transfers interest in a property to another party, and warrants condition of title.
And, the one you are probably seeing mentioned in your studies is:
“Warranty deed to trustee”, this is the type of deed used when a title holder (homeowner), transfers title into a trust of some sort, usually a land trust when used in the context of a subject to transaction.
Anyway, does that help at all?
Take care,
Jim FL