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<p class="MsoNormal">In my view the Trustee on a deed of trust is a neutral third party, acting only according to it’s powers as set forth in the deed of trust act:<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Open Sans",sans-serif;color:black;background:white">The trustee of record shall reconvey all or any part of the property encumbered by the deed of trust to the person entitled thereto
<u>on written request of the beneficiary</u>, or upon satisfaction of the obligation secured and written request for reconveyance made by the beneficiary or the person entitled thereto.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Open Sans",sans-serif;color:black;background:white"><o:p> </o:p></span></p>
<p class="MsoNormal">Should you reconvey without a request by the beneficiary, in my opinion you are acting outside of your authority.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">At a minimum I would want to contact the beneficiary and get approval to reconvey the deed of trust from somewhat with at least apparent authority OR proof of payment from the Grantor and a request for reconveyance signed by the Grantor.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">John McCrady<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">Counsel<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">Puget Sound Title Company<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">5350 Orchard Street West<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">University Place WA 98467<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">253-476-5721<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><a href="mailto:j.mccrady@pstitle.com"><span style="color:#0563C1">j.mccrady@pstitle.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:13.0pt;font-family:"PT Serif",serif;color:black;background:white;mso-ligatures:standardcontextual">There are no traffic jams on the extra mile</span></i><i><span style="mso-ligatures:standardcontextual"><o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:13.0pt;font-family:"Bodoni MT",serif;mso-ligatures:standardcontextual">Beginning July 26, 2021, recording fees for most documents recorded in Washington
<a href="https://www.piercecountywa.gov/DocumentCenter/View/105275/Recording-Fee-Schedule-Effective-Jul-25-2021-">
<span style="color:#0563C1">will increase by $100</span></a>. Please be sure to collect recording fees accordingly. Due to the above increase, our Reconveyance fees will also be increased by $100.00</span></b><b><span style="mso-ligatures:standardcontextual"><o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-top:6.0pt"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D;mso-ligatures:standardcontextual">WARNING-FRAUDULENT FUNDING INSTRUCTIONS
</span></b><b><span style="font-size:4.0pt;font-family:"Arial",sans-serif;color:#1F497D;mso-ligatures:standardcontextual"><o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-top:6.0pt"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D;mso-ligatures:standardcontextual">Email hacking and fraud are on the rise to fraudulently misdirect funds. Please call your escrow officer
immediately using contact information found from an independent source, such as the sales contract or internet, to verify any funding instructions received. We are not responsible for any wire sent by you to an incorrect bank account.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Rich Holland<br>
<b>Sent:</b> Wednesday, September 20, 2023 10:07 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Release vs Recon<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Sorry to be clear (I was cryptic on my phone), my firm is the trustee. They sent the full release of mtg to my firm. My question was, more or less, if the lender is unwilling/uncooperative in providing me with an actual request to reconvey
(that I prepare and send to them based on what they sent me) because it does not fit the box they are accustomed to checking, would you
<i>insist </i>on the request being signed or is that document which I have in my hands sufficient for a trustee to act?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Joseph McIntosh<br>
<b>Sent:</b> Wednesday, September 20, 2023 9:53 AM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBARP] Release vs Recon<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">Seems to me a lender who records a mortgage release, stating the secured obligation was satisfied, would be estopped from later asserting the deed of trust should remain intact because it was not properly reconveyed.
<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">Or, everyone who subsequently acquires an interest is a deemed a bona fide purchaser.
<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">I don’t see how a deed of trust gets effectively enforced after the recording of a release, even though release is not technically the proper procedure.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>John McCrady<br>
<b>Sent:</b> Wednesday, September 20, 2023 9:38 AM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBARP] Release vs Recon<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">From a title company perspective, that procedure is not valid. That being said, we have insured through such a procedure on a purely risk basis. As an aside, we do see out of state lenders, and even out of state attorneys, think the laws
of their jurisdiction are applicable to all jurisdictions.)<o:p></o:p></p>
<p class="MsoNormal">I would look at the age of the deed of trust and the amount of the loan, along with how long ago the loan would have been paid off by its terms. I would also look at whether there is a new insured deed of trust that would have paid off
the one in question.<o:p></o:p></p>
<p class="MsoNormal">If all the considerations line up to my liking I would agree to insure around the invalidly released deed of trust.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">John McCrady<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">Counsel<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">Puget Sound Title Company<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">5350 Orchard Street West<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">University Place WA 98467<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual">253-476-5721<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><a href="mailto:j.mccrady@pstitle.com">j.mccrady@pstitle.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:13.0pt;font-family:"PT Serif",serif;color:black;background:white;mso-ligatures:standardcontextual">There are no traffic jams on the extra mile</span><span style="mso-ligatures:standardcontextual"><o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:13.0pt;font-family:"Bodoni MT",serif;mso-ligatures:standardcontextual">Beginning July 26, 2021, recording fees for most documents recorded in Washington
<a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__www.piercecountywa.gov_DocumentCenter_View_105275_Recording-2DFee-2DSchedule-2DEffective-2DJul-2D25-2D2021-2D&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=hDHe9lm5VBA9VXO3e3szRw&m=yKW8pIFYCa-LA37Irm7GY-cqZNky1K38_Z1Uzm772rJBfJJJm99xPApdIDiTejr1&s=UY2H0PEjkU6I6D14BNy831SJoxV9ShifAuemsBlEQy0&e=">
will increase by $100</a>. Please be sure to collect recording fees accordingly. Due to the above increase, our Reconveyance fees will also be increased by $100.00</span><span style="mso-ligatures:standardcontextual"><o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-top:6.0pt"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D;mso-ligatures:standardcontextual">WARNING-FRAUDULENT FUNDING INSTRUCTIONS
</span></b><b><span style="font-size:4.0pt;font-family:"Arial",sans-serif;color:#1F497D;mso-ligatures:standardcontextual"><o:p></o:p></span></b></p>
<p class="MsoNormal" style="margin-top:6.0pt"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D;mso-ligatures:standardcontextual">Email hacking and fraud are on the rise to fraudulently misdirect funds. Please call your escrow officer
immediately using contact information found from an independent source, such as the sales contract or internet, to verify any funding instructions received. We are not responsible for any wire sent by you to an incorrect bank account.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></p>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Rich Holland<br>
<b>Sent:</b> Tuesday, September 19, 2023 4:11 PM<br>
<b>To:</b> WSBA Real Property (<a href="mailto:wsbarp@LISTS.WSBARPPT.COM">wsbarp@LISTS.WSBARPPT.COM</a>) <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] Release vs Recon<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Out of state lender who is ... difficult ... to communicate with sends a full release of mortgage for an obligation where said obligation is secured by a deed of trust rather than a mortgage. As trustee would you insist on a clear written
request to reconvey (which will be asked for but, again, - difficult communication) or is the full release of mortgage sufficient? <o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Rich on his phone<o:p></o:p></p>
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