Documents Defined ( Substitution of Trustee )

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Substitution of Trustee

The "Substitution of Trustee" document is utilized when the

beneficiary (lender) determines a need to change the trustee under a

recorded deed of trust. The trustee, if a corporation, may be

"winding up" its affairs and ceasing to carry on its business; or if an

individual, may become incapacitated or deceased, which would

necessitate the substitution of a new trustee. In some instances, the

substitution may be made by the beneficiary when the trustee

declines to act in its fiduciary capacity. Regardless of the

circumstances, the trustee does not have to agree to step aside.

Substitution of Trustee and Full Reconveyance

A "Substitution of Trustee and Full Reconveyance" is a document

that combines the functions of a "Substitution of Trustee" document

and a "Full Reconveyance" document. A Substitution of Trustee

and Full Reconveyance is normally used when a deed of trust is

assigned to a new beneficiary who wishes to substitute itself as

trustee and at the same time record a full reconveyance.