The following description best characterizes which instrument listed below: "A debtor deeds legal title to an independent third party who holds the deed as security for the creditor."

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This description is referring to a deed of trust, where the borrower/debtor deeds legal title of the property to an independent third-party trustee who holds the deed as security for the lender/creditor. This is a common type of mortgage used in many states in the US.

The Following Description Best Characterizes Which Instrument Listed Below: "A