Different counties in Georgia call it different things, but the outcome, as you have said, is the same due to the restrictions inherent in the instrument.

Instead of buyer getting s loan from a bank or elsewhere, the seller carries a note (loan) with same security instrument on the property to secure the loan - Trust deed and promissory note.

In reality, the only thing we need this to do is act as an instrument that if I were to die and she were to die it goes to her daughter.

Howdy @David Saba, your profile says you studied at Berklee; what instrument?

Endorsement and/or satisfaction of this instrument acknowledges payment in full for contract dated xx/xx/xx by and between the issuer and the payee.  

Our representative Lisa McCook was instrumental in getting our deal completed.

Does this not make the paper a security, and if so, are you not in violation of securities laws marketing a security instrument without an appropriate license...?

Example, If greece debt swaps are riskier this will be reflected in the instrument through a much higher fixed rate (all swaps are fixed for floating), similar to how a stock's price trades up or down based on the prospects of a company.

@Matt Geerts I believe someone can register an instrument against your property, for any amount, with your consent.

Tim was instrumental in our success.