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guardian deed. Court appointed deed given to a guardian in charge of the sale of real estate. A guardian deed is granted when the original owner is incapable of making decisions regarding their personal affairs or property.
An ordinary mortgage deed documents a transaction between two parties, a lender and a borrower. A trustee deed is an arrangement between three parties: the borrower, who is also called a trustor; the lender; and the trustee, who holds legal title to the property. The trustee is usually a title or escrow company.