[WSBARP] reconvey without trustee?

[Robert Ordal]

I would not do it unless I got the original note marked “PAID” or a signed indemnity agreement from a beneficiary I trusted.

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Randy Cornwall
Sent: Wednesday, April 13, 2016 10:01 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] reconvey without trustee?

Curious to hear thoughts on trustee (or successor trustee) liability for preparing the reconveyance at beneficiary's request absent having original note and deed of trust or indemnity for loss of the same from the beneficiary?

Thanks. -Randy

Sent from my mobile device. Please forgive typos and incorrect "auto corrects".

On Apr 13, 2016, at 9:49 AM, Maureen Wickert <wickertlaw at comcast.net<mailto:wickertlaw at comcast.net>> wrote:
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
<image001.jpg>
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>
This electronic message contains information which may be confidential and/or legally privileged. The information is intended for the use of the individual or entity named above. If you are not the intended recipient, be aware that any disclosure, copying, distribution or use of the contents of this transmission is prohibited. If you have received this electronic transmission in error, please notify me by telephone or by email immediately.

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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