Is the owner of a promissory note a beneficiary of the associated deed of trust?
California, United States of America
The following excerpt is from Ramirez v. Mortg. Elec. Registration Sys., E068908 (Cal. App. 2018):
Typically, the owner of a promissory note is the beneficiary of the associated deed of trust. (Orcilla v. Big Sur, Inc. (2016) 244 Cal.App.4th 982, 1003.) " 'Under the MERS System, however, MERS is designated as the beneficiary in deeds of trust, acting as "nominee" for the lender, and granted the authority to exercise legal rights of the lender.' " (Ibid.) " ' "[T]here is no stated requirement in California's non-judicial
Page 9
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
What is the fiduciary relationship between a beneficiary and the beneficiary of a trust? (California, United States of America)
Can a trust that does not have resident trustees or beneficiaries be liable for income tax on the accumulated income of the trust? (California, United States of America)
Can a beneficiary of a trust bring a lawsuit against a trustee who allegedly breached fiduciary duties owed to the beneficiary? (California, United States of America)
What is the meaning of a trust agreement where the beneficiary of the trust is denied or denied a right reserved to himself by the trustor? (California, United States of America)
Can a beneficiary of a third party creditor beneficiary contract rescind the contract before the commencement of an action against the beneficiary? (California, United States of America)
When a party in whose name has placed a trust in the name of a person who is not a beneficiary of the trust, does he have to perform the obligations devolving upon him? (California, United States of America)
How have the trustees of a trust been found to have breached their fiduciary duties toward the trust by failing to disclose to the trustee that the trustees have a conflict of interest in the trust? (California, United States of America)
Can a trustee or beneficiary of a trust petition the probate court to determine the existence of the trust? (California, United States of America)
Is the beneficiary of a life insurance policy entitled to the proceeds of the policy to the beneficiary when the beneficiary is innocent of any wrongdoing? (California, United States of America)
Does a change in beneficiaries of a life insurance policy change the beneficiaries of the beneficiary of the deceased's life insurance policies violate section 172 of the Civil Code? (California, United States of America)
