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News & Press: Sacramento Report

Legislation Allowing Substituted Trustee to Resign Moves Forward

Tuesday, June 18, 2019  
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Senate Bill 306 (Morrell) would provide that a trustee named in a recorded substitution of trustee may either resign or refuse to accept appointment as trustee without the consent of the beneficiary, provided that the substituted trustee follows certain requirements as established in the bill, including the recordation of a notice of resignation of trustee.

Under current law, if a trustee wishes to withdraw and not perform services under the deed of trust, no express provision permits such a withdrawal.

CLTA worked with the bill’s author and sponsor, the United Trustees Association, (UTA), on amendments to the legislation, including the insertion of a provision that would require the resigning trustee to record a notice of resignation. After the UTA agreed to the CLTA requested amendments, CLTA is now neutral on the bill.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
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