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<p class="MsoNormal"><span style="color:#1F497D">I think it depends on the terms of your contract. If the grantor agreed the deed of trust would secure extensions to the obligation that you are now contemplating, I think you should be fine.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">If the agreement was to strictly secure a loan that matured next spring, I was strongly consider a new security instrument, with all the formalities, and accurately identifying the modified obligation. You don’t
want to run afoul of the statute of frauds for deeds of trust, if it can be avoided. <o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Timothy Lehr<br>
<b>Sent:</b> Tuesday, December 14, 2021 9:39 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Extension of Prom Note and Deed of Trust<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">All,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I have a client that would like to extend a promissory note he is the holder of, rather than collect the balloon payment (which is due next spring). It was a seller financed deal on real estate and the note is also secured by a deed of
trust on the property. Assuming both parties agree to this extension, is there anything that needs to be filed to “extend” the deed of trust, does a new deed of trust need to be recorded, or does the original deed of trust continue to secure the extension
of the note? This is my first time dealing with this, seemingly, straight-forward process.
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<p class="MsoNormal">Thank you,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>Timothy C. Lehr<o:p></o:p></b></p>
<p class="MsoNormal">Attorney at Law<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><img width="191" height="69" id="Picture_x0020_1" src="cid:image001.jpg@01D7F0CF.9BAD2070"><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">p: 360.855.0131<o:p></o:p></p>
<p class="MsoNormal">e: <a href="mailto:timothy@stileslaw.com">timothy@stileslaw.com</a><o:p></o:p></p>
<p class="MsoNormal">w: <a href="http://www.stileslaw.com/">www.stileslaw.com</a><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b>NOTICE</b>: The information contained in this email is proprietary and/or confidential and may be privileged. If you are not the intended recipient of this communication, you are hereby notified to : (i) delete the email and all copies;
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