A deed of trust is essentially an agreement between a lender and a borrower to give legal title to a property to a neutral third party who will serve as a trustee. The trustee holds the property until the borrower pays off the debt owed to the lender. During the period of repayment, the borrower keeps the actual or equitable title to the property and generally maintains full responsibility for the premises. The trustee, however, holds the legal title to the property and is empowered to sell the property to satisfy the debt if the borrower defaults.  (In that event, once the sale is complete, the trustee will distribute the proceeds between the borrower and the lender. The lender gets whatever funds are required to satisfy the debt, and the borrower receives anything in excess of that amount.)

Here are details of several deeds of trust filed in Wilson County:

• Levi H. Peacock and his wife Hannah H. Peacock borrowed $65.88 at 6% interest from Kathleen Smith Grady to purchase a 53′ by 210′ lot with buildings on Ash Street adjacent to lots owned by O.L.W. Smith and others. The loan was due 1 January 1929. On 24 September 1928, trustee R.A. Grady filed a deed of trust that was recorded at Book 181, page 302. It carries a stamp noting thet the loan was paid in full and the deed cancelled on the due date.
• Laura Reid and her husband H.S. Reid, Minnie Reid Creech and her husband M.C. Creech, Levi J. Reid, Hugh C. Reid, J. Harvey Reid and Walter Reid borrowed $1000 at 6% interest from A.O. Dickens to purchase 46 acres on New Raleigh Road and Contentnea Creek. Laura Reid had purchased the acreage, identified as Lot #5 of the plat at Plat Book 1, Page 24, from F.J. and Mattie Finch. Trustee Bryce Little filed a deed of trust that was recorded at Book 181, page 470. There is no indication that the loan was satisfied.

Plat Book 1, Page 24, “Division of J.D. Farrior Raleigh Road Farm Three Miles West of Wilson, N.C.,” 5 December 1916.

Lot #5 of the above plat.

The location of Laura Wilder Reid’s land today, out N.C. Highway 42 West, just past Forest Hills Road and just before Greenfield School.

• W.M. King, J.H Neil and G.J. Branch, the trustees of “Mount Zion Holiness Church (colored)” borrowed $75 at 6% interest from J.T. Dew & Brothers to purchase a lot on the south side of Lodge Street on which a church building stood. The loan was due 14 April 1929. On 14 April 1928, trustee R.A. Grady filed a deed of trust that was recorded at Book 181, page 26. There is no indication that the loan was satisfied.
• John Whitehead, Mat Turner and Alonzo Walker, the trustees of “Good Hope Missionary Baptist Church (colored)” borrowed $400 at 6% interest from R.A. Grady. (“Witnesseth: That whereas at a special meeting of the membership of Good Hope Missionary Baptist Church (colored) held on the 4th day of January 1929 … it was made to appear that in order to complete the church building now in the course of erection” and to pay the purchase price of the lot, they needed to borrow money. … F.F. Battle, Moderator, Mary Jones, Clerk.) The lot and church building were on Atlantic Street. The loan was due 10 January 1930. On 16 January 1929, trustee R.A. Grady filed a deed of trust that was recorded at Book 181, page 543. There is no indication that the loan was satisfied.