Idaho Substitution of Trustee and Deed of Full Reconveyance

Idaho Substitution of Trustee and Deed of Full Reconveyance  Image
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This form is used by the current beneficiary/lender to substitute an existing trustee with a successor trustee who then has the power to reconvey the Deed of Trust back to the grantor/borrower(s). This is typically performed when the loan/note has been satisfied and the current trustee can't or won't act, or the beneficiary/lender decides to choose a different trustee to reconvey the Deed of Trust in question. This form includes the required written request from the beneficiary to the trustee to reconvey the property. Acknowledgments are required from the current beneficiary/lender and the appointed successor trustee, included are two notary statements, allowing flexibility of the beneficiary acknowledging at one time and place and the successor trustee acknowledging at another time and place if need be.

Upon performance of the obligation secured by the deed of trust, the trustee upon written request of the beneficiary shall reconvey the estate of real property described in the deed of trust to the grantor; providing that in the event of such performance and the refusal of any beneficiary to so request or the trustee to so reconvey, as above provided, such beneficiary or trustee shall be liable as provided by law in the case of refusal to execute a discharge or satisfaction of a mortgage on real property.

For use in Idaho only.

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