Posted by Dave T on February 07, 2000 at 09:31:42:
A deed of trust (also known as a trust deed) is a security instrument that conveys title IN TRUST to a neutral third party for a particular piece of real estate. The trustee has the original trust deed. When the loan is satisfied, the trustee conveys title back to the borrower.
In case of default, the trustee may be instructed to sell the property to satisfy the loan. If you are the beneficiary of the trust, then you should instruct the trustee to sell the property to satisfy the loan. The trustee will hold a Trustee Sale on the courthouse steps.
Perhaps it is best at this point to consult legal counsel for specific guidance