[WSBARP] Extension of Note and Deed of Trust

[Nestor Gorfinkel]

I agree with you. I was just informing of a more inexpensive route, which we know is not always the best.


Nestor
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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> on behalf of Law Office of Shaun Watchie Perry <shaunwperry at swp-law.com>
Sent: Wednesday, December 23, 2020 11:52 AM
To: wsbarp at lists.wsbarppt.com <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Extension of Note and Deed of Trust


Hi Nestor, I am always a little nervous about just doing the  note extension. I do a boot and suspenders approach which I learned as a lender's counsel years ago.  I always do a modification of deed of trust together with the note modification agreement, record the deed of trust modification and obtain an endorsement  from the title company. It is a small price to pay to make sure your client does not have to worry about someone leap frogging ahead of him in priority and lets. Just my 2 cents.

Thanks, Shaun

Ms. Shaun Watchie Perry | Attorney at Law
Law Office of Shaun Watchie Perry
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On 12/23/2020 8:28 AM, Craig Sjostrom wrote:

If the DOT secures the note and extensions (they usually do), then just do an extension agreement on the note and leave the DOT alone. Not only do you save the recording, but you keep the priority of the original DOT.



Craig



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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com><mailto:wsbarp-bounces at lists.wsbarppt.com> On Behalf Of nestor at pplsweb.com<mailto:nestor at pplsweb.com>
Sent: Wednesday, December 23, 2020 8:17 AM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com><mailto:wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Extension of Note and Deed of Trust



Client has a note and DT that expires and is allowing an extension. The note and deed of trust on its face says due date of 1/1/21. Is it best to do a new renewal note and a new Renewal Deed of Trust and record the same?

Client wants to save the $$ and not record a renewal DT.





Nestor Gorfinkel, Attorney at Law

Licensed in Florida & Washington

Florida Civil-Law (International) Notary



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