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DEFINITION of 'Deed'. A legal document that grants the bearer a right or privilege, provided that he or she meets a number of conditions. In order to receive the privilege - usually ownership, the bearer must be able to do so without causing others undue hardship.
Deed of Trust. Also found in: Dictionary, Thesaurus, Financial, Acronyms, Encyclopedia, Wikipedia. A document that embodies the agreement between a lender and a borrower to transfer an interest in the borrower's land to a neutral third party, a trustee, to secure the payment of a debt by the borrower.