Lake And Peninsula Borough Substitution of Trustee Form (Alaska)

The following Alaska and Lake And Peninsula Borough supplemental forms are included as a courtesy with your order:

When using these Substitution of Trustee forms, the subject real estate must be physically located in Lake And Peninsula Borough. The executed documents should then be recorded in the following office:

Local jurisdictions located in Lake And Peninsula Borough include:

• Chignik
• Chignik Lagoon
• Chignik Lake
• Egegik
• Iliamna
• Levelock
• Nondalton
• Pedro Bay
• Perryville
• Pilot Point
• Port Alsworth
• Port Heiden

Use this form to substitute a trustee in a previously recorded Deed of Trust, typically executed to perform a foreclosure or when the current trustee can't or won't act.

((b) The substitution must contain

(1) the date of execution of the trust deed;
(2) the names of the trustee, trustor, and beneficiary, and, if the substitution is executed by the attorney for the beneficiary or successor in interest to the beneficiary, the name, address, and Alaska Bar Association identification number of the attorney;
(3) the book and page where the trust deed is recorded or the serial number assigned to the trust deed by the recorder;
(4) the name of the new trustee; and
(5) an acknowledgment signed and acknowledged by the trustee named in the trust deed of a receipt of a copy of the substitution, or an affidavit of service of a copy of it.
(c) From the time the substitution is filed for record, the new trustee succeeds to all the powers, duties, authority, and title of the trustee named in the deed of trust.
(d) When a title insurance company authorized to do business by a certificate of authority granted under AS 21.66 has been purchased by, merged into, or consolidated with, or has transferred all or substantially all of its business assets to, another authorized title insurance company, the surviving or successor company, by operation of law, succeeds to the duties of the predecessor company granted to that predecessor as trustee in any trust deed described in (a) of this section.) (Alaska Sec. 34.20.120.)

This form contains an "Affidavit of Service of Substitution of Trustee" clause/paragraph as described in AK Sec. 34.20.120(5) above.

For use in Alaska only.

Our Promise

The documents you receive here will meet, or exceed, the Lake And Peninsula Borough recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

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