Is a deed of trust considered a contract and if so, what statutes would govern its enforcement?

A deed of trust is a three-party instrument securing a loan or other obligation, which lenders usually record against real property as security for payment of the obligation due them (usually based on a signed promissory note). California’s foreclosure law is found at California Civil Code sections 2924 through 2924l, and California Civil Procedure Code sections 580a through 580d. California's law on judicial foreclosures can be found in California Civil Procedure Code sections 725a through 730.5.

A Deed of Trust (DOT) is in itself not a contract. It is evidence of a contract, usually between a borrower and a lender. The contract is the promissory note, or other document that identifies what is owed by the borrower, to the lender. The DOT gives the lender security (collateral) that the borrower will perform. As attorney Chen has identified, there is an entire statutory structure dealing with DOTs.

A deed of trust is not considered a contract. It is simply a security instrument which allows the lender to sell your property through foreclosure if you don't pay your mortgage. It lacks the required element for a contract. However, as Mr. Hoffman pointed out, it evidences the existence of a contract, i.e. a promissory note. Also, a promissory note often mentions the deed of trust which makes its part of the promissory note. In other words, a deed of trust by itself is not a contract. In California, a deed of trust that is not legally supported by any debt obligation may not be enforeceable such as when the underlying note or debt obligation is void for whatever reasons.