Real estate terms question

My buddy showed me a site called property shark. I?m trying to understand what this means. The property was sold in 2010 and the title says ?Deed? with amount $1,000,000. Party 1 is Mr. and Mrs. Jackson and Party 2 is Mrs Smith. This means that the Jackson couple sold it to Mrs. Smith for $1m. I believe when it states ?deed?, that means the party paid cash correct?
Then a couple years later 2012 it says ?Trust Deed? with party 1 this time being Mr and Mrs Smith Trust and Party 2 being a Bank. Amount is $700k. So I don?t understand what happened here? Why would they take out a loan of $700,000 in 2012 when it was already paid in cash in 2010? Or is it just to add the husband into the trust time and take out a heloc? Don?t understand.

Screenshot it and share here for better clarity.  People do cash out refi's all the time so even if they paid cash a few years ago, they might decide to take a loan out against the house for something else. 

Not sure screenshot is best way of showing it.  So it sounds like a deed means it is paid off and a trust deed is when you borrow money.

Black out the addresses and names. 

The term "deed" probably refers to "grant deed" which is the document that is recorded at the County as the official title transfer from the seller to the buyer.  The term "trust deed" or "deed of trustee" in CA most likely refers to the a recorded mortgage on the property in this case.  So the owners got a "cash out" refi loan. 

People can take out a cash out refi on a paid off home for many reasons, it could also be that the owners got a HELOC loan on the home.  I bought a property from a client for cash to help him purchase a new home so he'd be non-contingent and then I got a loan on the property after I closed on it.

USCTrojanCPA said:

I bought a property from a client for cash to help him purchase a new home so he'd be non-contingent and then I got a loan on the property after I closed on it.

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