Which pair of terms means essentially the same thing?

The relationship between "trustee's sale" and "foreclosure" is closely tied within the context of real estate. A foreclosure is a legal process that a lender initiates when a borrower defaults on their mortgage payments. In California, this process often culminates in a trustee's sale, which is the method used to execute the foreclosure of property through a public auction.

During a trustee's sale, the property is sold to the highest bidder, typically in an effort to recover the outstanding debt owed to the lender. This process is a direct application of foreclosure proceedings. Therefore, the terms are effectively synonymous in terms of the process they refer to within real estate law and practice, particularly in the context of California.

The other terms listed have distinct meanings and are not interchangeable. For instance, bankruptcy refers to a legal status for an individual or corporation unable to repay outstanding debts, while foreclosure specifically deals with the repossession of property due to mortgage default. A lease and rental agreement represent two different forms of legal documentation in property rental, though they can sometimes be used interchangeably, the language and duration typically differ. Lastly, collateral refers to an asset pledged as security for a loan, while equity indicates ownership value in property. These terms describe different concepts and