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The main difference between a deed and a deed of trust is that a deed is a transfer of ownership, while a deed of trust is a security interest. A deed of trust is used to secure a loan, while a deed is used to transfer ownership of a property.

A deed of trust, also called a trust deed, is the functional equivalent of a mortgage. It does not transfer the ownership of real property, as the typical deed does. Like a mortgage, a trust deed makes a piece of real property security (collateral) for a loan.

As a private financing agreement, a trust deed requires loan servicing and can't be liquidated like stock. When necessary, the promissory note can be sold to regain capital and reinvest elsewhere, but liquidity is not instantaneous.

In California, you can include a family member on a deed through joint ownership and later transfer your portion to a living trust. This typically involves using a grant deed or quitclaim deed, ensuring it includes all necessary legal elements, and recording it with the county recorder's office.

The loan terms are provided in the deed of trust, including the interest rate and other obligations. Once this is repaid in full, the promissory note will be marked “Paid in Full.” Then, the buyer will be given back the deed.

While it's possible to amend a revocable living trust on your own, it's advisable to consult with an experienced estate planning attorney in California. They can provide legal guidance and ensure that your amendments comply with state laws.

Generally speaking, yes, however this is not advised. The definition of Beneficiary in most Family Trust deeds is very broad so it may not ever be necessary to add a Beneficiary.

Trustees generally do not have the power to change the beneficiary of a trust. The right to add and remove beneficiaries is a power reserved for the settlor of the trust; when the grantor dies, their trust will usually become irrevocable.

An amendment is generally appropriate when there are only a few minor changes to make, like rewording a certain paragraph, changing the successor trustee, or modifying beneficiaries. The amendment acts as a patch to the trust and both documents (trust and amendment) must be kept as long as the trust is in effect.