Section 45-1201 – DEFINITIONS.
45-1201. DEFINITIONS. As used in this chapter: (1) "Beneficiary" means both the record owner of the beneficiary’s interest under a trust deed, including successors in interest. (2) "Reconveyance" or "reconvey" means a reconveyance of a trust deed. (3) "Satisfactory evidence" of the full payment of an obligation secured by a trust deed means a payoff […]
Section 45-1202 – CONDITIONS TO RECONVEYANCE.
45-1202. CONDITIONS TO RECONVEYANCE. A title insurer or title agent may reconvey a trust deed pursuant to the procedure prescribed in section 45-1203, Idaho Code, if the obligation secured by the trust deed shall have been fully paid by the title insurer or title agent that is permitted to reconvey the trust deed pursuant to […]
Section 45-1203 – PROCEDURE FOR RECONVEYANCE.
45-1203. PROCEDURE FOR RECONVEYANCE. A title insurer or title agent may execute and record a reconveyance of a trust deed upon compliance with the following procedure: (1) Not less than thirty (30) days after payment in full of the obligation secured by the trust deed and receipt of satisfactory evidence of payment in full has […]
Section 45-1204 – OBJECTIONS TO RECONVEYANCES.
45-1204. OBJECTIONS TO RECONVEYANCES. The title insurer or title agent shall not record a reconveyance of a trust deed if, prior to the expiration of the sixty (60) day period specified in section 45-1203(2), Idaho Code, the title insurer or title agent receives a notice on behalf of the beneficiary or servicer stating that the […]
Section 45-1205 – LIABILITY OF TITLE INSURANCE AGENT OR UNDERWRITER.
45-1205. LIABILITY OF TITLE INSURANCE AGENT OR UNDERWRITER. In the event that a trust deed is reconveyed by a title insurer or title agent purporting to act under the provisions of this chapter, but the obligation secured by the trust deed has not been fully paid, the title insurer or title agent effecting such reconveyance […]
Section 45-1206 – PAYOFFS PRIOR TO EFFECTIVE DATE.
45-1206. PAYOFFS PRIOR TO EFFECTIVE DATE. The reconveyance procedure prescribed in sections 45-1201 through 45-1205, Idaho Code, shall apply to obligations secured by trust deeds that were paid either prior to or following the effective date of this section. History: [45-1206, added 1995, ch. 326, sec. 1, p. 1095.]