Legal Question in Real Estate Law in California
Can any bank record a substitution of trustee of the deed of trust on ANY defaulted loan, then foreclose?
Asked on 9/18/13, 6:10 pm
2 Answers from Attorneys
Anthony Roach
Law Office of Anthony A. Roach
Yes, yes they sure can. The whole thing is governed by Civil Code section 2934a. (Note that I wrote 2934a and not 2934(a) or 2934 subdivision (a).)
Answered on 9/18/13, 9:24 pm
Bryan Whipple
Bryan R. R. Whipple, Attorney at Law
Well, not "any bank" - under 2934a, it has to be a bank meeting one of the criteria listed therein at 2934a(a)(1)(A) or (B). However, a bank can meet one of these criteria without necessarily being a bank you've dealt with or whose name you recognize!
Answered on 9/21/13, 5:37 pm
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