Which document specifies the conditions under which a property can be sold or transferred?

The correct response is that a trust deed specifies the conditions under which a property can be sold or transferred. A trust deed is a legal document used in real estate that involves three parties: the borrower (trustor), the lender (beneficiary), and the trustee. It conveys the title of the property to a trustee as security for a loan. In the context of selling or transferring property, the trust deed outlines the obligations and rights of both the borrower and lender, including what happens in the event of a default.

This document serves as a safeguard for the lender, ensuring that specific conditions must be met for a transfer to occur, protecting their interest in the property. The trust deed is crucial in defining how the property can be managed or sold if the borrower is unable to uphold their end of the deal.

Other documents like a mortgage also pertain to financing and securing loans, but it does not typically contain conditions specific to the sale or transfer of property itself. A title deed indicates ownership of property but does not govern how it can be sold or transferred. A bill of sale is related to the transfer of personal property, not real estate. Thus, the trust deed is the appropriate choice for describing the conditions surrounding the sale or transfer of real property.