Legal Question in Real Estate Law in California
What should I do if I did not receive a Substitution of Trustee and Full Reconveyance after 2 months already of my refinance? Is this bad? I think it might get lost in the mails...already made payments to the new mortgage company.
4 Answers from Attorneys
Contact the County Recorder's Office
Mr. Kiani is being silly. You can check the grantor grantee index at the County Recorder's Office to see if one was recorded, but they don't have an obligation to print it out and send it to you just because you called. Even the title companies have someone who has to go down and pick up the documents.
I think you should look at Civil Code section 2941 (available on line), and in particular, subsections 2941(b), (c) and (d). Then go the the County Recorder's office in person -- mid-day may be best; they tend to be less busy then--and have a clerk assist you in searching for a recorded copy of the reconveyance. If none found, contact the former lender. You may have to pay a small fee ($45) but if you don't get a reconveyance after paying off your note secured by a deed of trust within two months, the old lender may be subject to a statutory penalty.
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