Idaho Code § 45-1502
Definitions — Trustee’s charge.
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Definitions — Trustee’s charge.
As used in this act:
(1) "Beneficiary" means the person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or his successor in interest, and who shall not be the trustee.
(2) "Grantor" means the person conveying real property by a trust deed as security for the performance of an obligation.
(3) "Trust deed" means a deed executed in conformity with this act and conveying real property to a trustee in trust to secure the performance of an obligation of the grantor or other person named in the deed to a beneficiary.
(4) "Trustee" means a person to whom title to real property is conveyed by trust deed, or his successor in interest for the limited purpose of the power of sale contained in this chapter upon the occurrence of certain contingencies set forth in such trust deed, and the obligation to reconvey the deed of trust pursuant to section 45-1514, Idaho Code. All other incidents of ownership of such real property shall remain with the grantor. For the purpose of section 45-1506(2)(c), Idaho Code, a trustee is not a party requiring notice of sale.
(5) "Real property" means any right, title, interest and claim in and to real property owned by the grantor at the date of execution of the deed of trust or acquired thereafter by said grantor or his successors in interest. Provided, nevertheless, real property as so defined which may be transferred in trust under this act shall be limited to: (a) any real property located within an incorporated city or village at the time of the transfer; (b) any real property not exceeding eighty (80) acres, regardless of its location, provided that such real property is not principally used for the agricultural production of crops, livestock, dairy or aquatic goods; or (c) any real property not exceeding forty (40) acres regardless of its use or location.
(6) The trustee shall be entitled to a reasonable charge for duties or services performed pursuant to the trust deed and this chapter, including compensation for reconveyance services notwithstanding any provision of a deed of trust prohibiting payment of a reconveyance fee by the grantor or beneficiary, or any provision of a deed of trust which limits or otherwise restricts the amount of a reconveyance fee to be charged and collected by the trustee. A trustee shall be entitled to refuse to reconvey a deed of trust until the trustee’s reconveyance fees and recording costs for recording the reconveyance instruments are paid in full. The trustee shall not be entitled to a foreclosure fee in the event of judicial foreclosure or work done prior to the recording of a notice of default. If the default is cured prior to the time of the last newspaper publication of the notice of sale, the trustee shall be paid a reasonable fee.
Notes of Decisions
Cited in 23
cases (3 in the last 5 years), 1977–2026 · leading case: Liberty Bankers Life Insurance v. Witherspoon, Kelley, Davenport & Toole, P.S.
Liberty Bankers Life Insurance v. Witherspoon, Kelley, Davenport & Toole, P.S. (2016)
“In contrast to a lien, a deed of trust “convey[s] real property to a trustee in trust to secure the performance of an obligation of the grantor or other person named in the deed to a beneficiary.”
Spencer v. Jameson (2009)
“Idaho Code § 45-1502 (5) provides additional limitations on what real property can be transferred to the trustee for purposes of non-judicial foreclosure.”
Frazier v. Neilsen & Co. (1989)
“When the legislature first enacted these laws in 1957, and in its subsequent amendments, it made the act applicable only to deeds of trust.”
ACI Northwest, Inc. v. Monument Heights, LLC (2015)
“The trustee retains legal title until the obligation secured by 13 the deed of trust has been performed. I.C. § 45-1514.”
Edwards v. Mortgage Electronic Registration Systems, Inc. (2013)
“” Under the act governing deeds of trust, I.C. §§ 45-1502 to 45-1515, a deed of trust means “a deed executed in conformity with [the] act and conveying real property to a trustee in trust to secure the performance of an obligation of the grantor .”
Trotter v. Bank of New York Mellon (2012)
“His contention is that a party must have “standing” to initiate a non-judicial foreclosure. Trotter’s arguments related to this issue can be summarized as: 1) in order to initiate a non-judicial foreclosure on a deed of trust, the foreclosing party must first prove that it has…”
Sheets v. BofA / Countrywide Home Loans (2016)
“He brought counterclaims for: (1) breach of contract; (2) specific performance; (3) violation of the Idaho Consumer Protection Act; (4) violation of the federal Fair Credit Reporting Act; (5) slander of credit; and (6) violation of Idaho Code section 45-1502. In 2012, Bank of…”
Ellis v. Butterfield (1977)
“See I.C. § 45-1502 et seq. Under the Trust Deeds statute, the property is conveyed to a trustee for the benefit of the vendor and in the event of the purchaser's default the trustee can conduct an extra-judicial sale of the property and satisfy the debt.”
Idaho First Bank v. Bridges (2018)
“I.C. § 45-1502(3). Indeed, the only document recorded was the deed of trust, signifying that both IFB and the Bridges understood that the cottage was real property.”
Parkwest Homes v. Julie G. Barnson (2013)
“I.C. § 45-1502(4); Defendant A. v. Idaho State Bar, 132 Idaho 662, 665 , 978 P.”
Brown's Tie & Lumber Co. v. Chicago Title Co. of Idaho (1988)
“With regard to the first act, the verbal update in July of 1981, neither the Brown’s Tie-Batt deed of trust nor the Idaho Trust Deeds Act, I.C. §§ 45-1502 et seq., establishes a duty on the part of Local to provide such updates.”
Choice Feed Inc. v. Montierth (2021)
“For example, the proposal was secured by a deed of trust on the feedlot, something that Ray thought was prohibited by Idaho Code section 45-1502 because the feedlot is over 40 acres.”
— Idaho Code § 45-1502(1) — 3 cases
Edwards v. Mortgage Electronic Registration Systems, Inc. (2013)
“” Under the act governing deeds of trust, I.C. §§ 45-1502 to 45-1515, a deed of trust means “a deed executed in conformity with [the] act and conveying real property to a trustee in trust to secure the performance of an obligation of the grantor .”
Trotter v. Bank of New York Mellon (2012)
“His contention is that a party must have “standing” to initiate a non-judicial foreclosure. Trotter’s arguments related to this issue can be summarized as: 1) in order to initiate a non-judicial foreclosure on a deed of trust, the foreclosing party must first prove that it has…”
— Idaho Code § 45-1502(2) — 1 case
ACI Northwest, Inc. v. Monument Heights, LLC (2015)
“The trustee retains legal title until the obligation secured by 13 the deed of trust has been performed. I.C. § 45-1514.”
— Idaho Code § 45-1502(3) — 7 cases
Liberty Bankers Life Insurance v. Witherspoon, Kelley, Davenport & Toole, P.S. (2016)
“In contrast to a lien, a deed of trust “convey[s] real property to a trustee in trust to secure the performance of an obligation of the grantor or other person named in the deed to a beneficiary.”
Spencer v. Jameson (2009)
“Idaho Code § 45-1502 (5) provides additional limitations on what real property can be transferred to the trustee for purposes of non-judicial foreclosure.”
Frazier v. Neilsen & Co. (1989)
“When the legislature first enacted these laws in 1957, and in its subsequent amendments, it made the act applicable only to deeds of trust.”
Idaho First Bank v. Bridges (2018)
“I.C. § 45-1502(3). Indeed, the only document recorded was the deed of trust, signifying that both IFB and the Bridges understood that the cottage was real property.”
ACI Northwest, Inc. v. Monument Heights, LLC (2015)
“The trustee retains legal title until the obligation secured by 13 the deed of trust has been performed. I.C. § 45-1514.”
— Idaho Code § 45-1502(4) — 5 cases
ACI Northwest, Inc. v. Monument Heights, LLC (2015)
“The trustee retains legal title until the obligation secured by 13 the deed of trust has been performed. I.C. § 45-1514.”
Parkwest Homes v. Julie G. Barnson (2013)
“I.C. § 45-1502(4); Defendant A. v. Idaho State Bar, 132 Idaho 662, 665 , 978 P.”
a v. Idaho State Bar (1999)
— Idaho Code § 45-1502(5) — 4 cases
Frazier v. Neilsen & Co. (1989)
“When the legislature first enacted these laws in 1957, and in its subsequent amendments, it made the act applicable only to deeds of trust.”
Liberty Bankers Life Insurance v. Witherspoon, Kelley, Davenport & Toole, P.S. (2016)
“In contrast to a lien, a deed of trust “convey[s] real property to a trustee in trust to secure the performance of an obligation of the grantor or other person named in the deed to a beneficiary.”
In Re Wiebe (2006)
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