[WSBARP] reconvey without trustee?

[Maureen Wickert]

Chicago Title just did a reconveyance for me and their fee was $260.  Part
of the reconveyance includes having the original Promissory Note and Deed of
Trust in hand. If the originals are missing, title companies require an
indemnity and affidavit of missing documents. The fee for Chicago Title to
do the reconveyance is not a lot of money. If original Promissory Note and
Deed of Trust are in hand, their fee can be a bit cheaper. 

 

Very truly yours,

Maureen A. Wickert, Attorney at Law



14900 Interurban Avenue South, Suite 255

        Tukwila, WA 98168

       Phone: 206-859-5502

         Fax: 206-260-9005

      <http://www.wickertlawoffice.com/> www.wickertlawoffice.com

        <mailto:wickertlaw at comcast.net> wickertlaw at comcast.net

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From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Bickel, Dwight
Sent: April 13, 2016 8:35
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] reconvey without trustee?

 

It is not wise to record a "release of mortgage" signed by the beneficiary.
In trust deed states, the release is a "reconveyance" that must be signed by
a valid Trustee. The holder of the note [beneficiary] can appoint you [if
active WA lawyer] as Trustee to sign and record the reconveyance. If your
fee to do that is less than the title company's fee, that is an easy course.

 

Dwight

 

From: wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com>
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Andrew Lemmel
Sent: Wednesday, April 13, 2016 7:44 AM
To: wsbarp at lists.wsbarppt.com <mailto:wsbarp at lists.wsbarppt.com> 
Subject: [WSBARP] reconvey without trustee?

 

Hello Listmates, I have a situation where my existing clients have asked me
to reconvey a piece of property that they took a deed of trust on for a
family member.  Chicago Title is trustee, and they were just hoping that I
could take care of it for them without CT.  is there any reason why I can't
change the reconveyance form to note that the DOT holders are signing the
reconveyance instead of the trustee?  Thanks for your thoughts.

 

Cheers,

 

Andrew L. Lemmel

Andrew Lemmel Attorney at Law PLLC

1900 West Nickerson Street, Suite 116-153 | Seattle, WA 98119

P: 206-283-0593 | F: 866-397-4743

andrew at lemmel-law.com <mailto:andrew at lemmel-law.com> 

 

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