[WSBARP] reconvey without trustee?

[Robert Ordal]

The problem I have had with title companies doing the full recon is that they are often slow.  If you need to get the full recon recorded promptly, the client may want to have the attorney appointed and then record the full recon.

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Maureen Wickert
Sent: Wednesday, April 13, 2016 9:49 AM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] reconvey without trustee?

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
[Business card for email]
14900 Interurban Avenue South, Suite 255
        Tukwila, WA 98168
       Phone: 206-859-5502
         Fax: 206-260-9005
     www.wickertlawoffice.com<http://www.wickertlawoffice.com/>
       wickertlaw at comcast.net<mailto:wickertlaw at comcast.net>
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From: wsbarp-bounces at lists.wsbarppt.com<mailto: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<mailto: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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