RCW 61.24.110
Reconveyance by trustee.
(1) The trustee of record shall reconvey all or any part of the property encumbered by the deed of trust to the person entitled thereto on written request of the beneficiary, or upon satisfaction of the obligation secured and written request for reconveyance made by the beneficiary or the person entitled thereto.
(2) If the beneficiary fails to request reconveyance within the sixty-day period specified under RCW 61.16.030 and has received payment as specified by the beneficiary's demand statement, a title insurance company or title insurance agent as licensed and qualified under chapter 48.29 RCW, a licensed escrow agent as defined in RCW 18.44.011, or an attorney admitted to practice law in this state, who has paid the demand in full from escrow, upon receipt of notice of the beneficiary's failure to request reconveyance, may, as agent for the person entitled to receive reconveyance, in writing, submit proof of satisfaction and request the trustee of record to reconvey the deed of trust.
(3)(a) If the trustee of record is unable or unwilling to reconvey the deed of trust within one hundred twenty days following payment to the beneficiary as prescribed in the beneficiary's demand statement, a title insurance company or title insurance agent as licensed and qualified under chapter 48.29 RCW, a licensed escrow agent as defined in RCW 18.44.011, or an attorney admitted to practice law in this state may record with each county auditor where the original deed of trust was recorded a notarized declaration of payment. The notarized declaration must: (i) Identify the deed of trust, including original grantor, beneficiary, trustee, loan number if available, and the auditor's recording number and recording date; (ii) state the amount, date, and name of the beneficiary and means of payment; (iii) include a declaration that the payment tendered was sufficient to meet the beneficiary's demand and that no written objections have been received; and (iv) be titled "declaration of payment."
(b) A copy of the recorded declaration of payment must be sent by certified mail to the last known address of the beneficiary and the trustee of record not later than two business days following the date of recording of the notarized declaration. The beneficiary or trustee of record has sixty days from the date of recording of the notarized declaration to record an objection. The objection must: (i) Include reference to the recording number of the declaration and original deed of trust, in the records where the notarized declaration was recorded; and (ii) be titled "objection to declaration of payment." If no objection is recorded within sixty days following recording of the notarized declaration, any lien of the deed of trust against the real property encumbered must cease to exist.
[ 2013 c 114 § 1; 1998 c 295 § 13; 1981 c 161 § 7; 1965 c 74 § 11.]
Structure Revised Code of Washington
Title 61 - Mortgages, Deeds of Trust, and Real Estate Contracts
Chapter 61.24 - Deeds of Trust.
61.24.008 - Borrower referred to mediation—When.
61.24.010 - Trustee, qualifications—Successor trustee.
61.24.025 - Application of federal servicemembers civil relief act to deeds of trust.
61.24.030 - Requisites to trustee's sale.
61.24.031 - Notice of default under RCW 61.24.030(8)—Beneficiary's duties—Borrower's options.
61.24.033 - Model language for initial contact letter used by beneficiaries—Rules.
61.24.040 - Foreclosure and sale—Notice of sale.
61.24.042 - Notice to guarantor—Contents—Failure to provide.
61.24.045 - Requests for notice of sale.
61.24.060 - Rights and remedies of trustee's sale purchaser—Written notice to occupants or tenants.
61.24.080 - Disposition of proceeds of sale—Notices—Surplus funds.
61.24.100 - Deficiency judgments—Foreclosure—Trustee's sale—Application of chapter.
61.24.110 - Reconveyance by trustee.
61.24.120 - Other foreclosure provisions preserved.
61.24.127 - Failure to bring civil action to enjoin foreclosure—Not a waiver of claims.
61.24.130 - Restraint of sale by trustee—Conditions—Notice.
61.24.135 - Consumer protection act—Unfair or deceptive acts or practices.
61.24.140 - Assignment of rents—Collecting payment of rent.
61.24.143 - Foreclosure of tenant-occupied property—Notice of trustee's sale.
61.24.146 - Foreclosure of tenant-occupied property—Notice to vacate.
61.24.165 - Application of RCW 61.24.163.
61.24.172 - Foreclosure fairness account created—Uses.
61.24.177 - Deed of trust pool—Duty of servicer to maximize net present value.
61.24.180 - Trustee as defendant—Declaration of nonmonetary status—Objection.