Most secured indebtedness on real property in Washington is accomplished by a note and deed of trust. A deed of trust can usually be foreclosed in a faster time period than a mortgage. A Deed of Trust consists of three parties:
- A trustor, who is the debtor in the note and places their property as security.
- The beneficiary who is the payee under the note and holds the security of the property, in which can be realized upon the failure to make payment, and
- The trustee who acts on behalf of the beneficiary to conduct the non-judicial sale.
If we are appointed by the beneficiary, then we can act as the entity conducting the non-judicial sale. If the note is paid-off, then we can act as the entity reconvening the deed of trust to the trustor.
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