Which legal document outlines the lender's rights in a mortgage agreement?

The deed of trust is the correct answer because it serves as a legal document that outlines the terms of the relationship between the borrower, the lender, and the trustee in a mortgage agreement. In a deed of trust, the borrower conveys the title of the property to the trustee, who holds it as security for the loan. This arrangement gives the lender specific rights, including the right to initiate foreclosure if the borrower defaults on the mortgage payments. It clearly defines the conditions under which the lender can act to protect their interests, making it an essential element of the mortgage process.

Other documents, such as a power of attorney, relate to granting authority to act on someone else's behalf and do not specifically address a lender's rights within a mortgage transaction. A warrant of possession typically pertains to the legal process in evicting tenants and is unrelated to mortgage agreements. Lastly, a lease agreement governs the rental of property but does not define the rights of a lender or the enforceability of a mortgage. Therefore, the deed of trust is the most relevant document in this context, effectively protecting the interests of the lender.