After winning a bid at a trust deed foreclosure sale, what type of deed is Z most likely to receive?

When Z wins a bid at a trust deed foreclosure sale, they are likely to receive a Trustee's Deed. A Trustee's Deed is specifically used in the context of a foreclosure when the property is sold at auction by a trustee who has been given the authority to act on behalf of the lender or the beneficiary of the trust deed.

This deed acts as evidence of the transfer of property ownership from the original borrower to the successful bidder, who in this case is Z. It confirms that the sale was conducted following the proper legal procedures outlined for trust deed foreclosures.

In contrast to the Trustee's Deed, a Sheriff's Deed typically emanates from a court-ordered sale, such as one that would occur in a judgment lien scenario rather than a trust deed foreclosure. The Deed of Trust is the instrument that secures the loan and outlines the agreement terms between the borrower and lender but is not issued upon a foreclosure sale. Trust Deeds serve to encumber the property but do not represent ownership transfer after a sale.