The Deed of Trust Is Not the Loan
The most common confusion in the file: the deed of trust is the security, the note is the promise, and the two travel separately through the system.
One schedule of the book
The instrument
the deed of trust, the note, the lien and its place in line
Notes under this schedule
4
The Note Is the Promise
What a promissory note actually is: the debt made portable, the endorsements that move it, and why the paper in the vault is the asset, not the house.
A Lien Is a Place in Line
Lien priority as the queue at the recorder's window: first in time, first in right, the exceptions that jump the line, and why position is the instrument's real meaning.
The Reconveyance Nobody Frames
The document that ends the deed of trust: how a reconveyance returns title, why lenders forget to record it, and the quiet mess an unreleased deed leaves behind.