(a) When a trust deed to secure a debt or obligation does not by its terms prescribe a method for substitution, the party secured by the trust deed, or any surety indemnified by the deed, or the assignee or personal representative of any secured party or surety may, if there is a death, removal, declination, resignation, refusal or inability of the original trustee or trustees named in the instrument, substitute a trustee or trustees in his or her, or its place by a writing duly signed and acknowledged and recorded in the office of the clerk of the county commission where the real estate covered by the trust deed is situate.
(b) When a substitution is made under this section of a trustee or trustees of a trust deed securing a debt or obligation, the substitution is effected when the party secured, or a surety indemnified by the deed, or the assignee or personal representative of any such secured party or surety has deposited true copies of the notice of the substitution in the United States mail, first class postage prepaid, addressed to the last known addresses of the grantor or grantors or any other person owing the debt or obligation, and has presented the original of the notice to the clerk of the county commission in whose office the trust deed is recorded, causing the notice to be recorded and indexed in a general lien book or other appropriate book in which trust deeds or assignments of trust deeds are recorded. There shall be appended to the notice presented for recording a certificate by the party making the substitution, certifying that copies of the notice were mailed as required by this subsection and showing the date of the mailing.
Structure West Virginia Code
Article 1. Vendor's and Trust Deed Liens
§38-1-1. Vendor's Lien; Its Enforcement
§38-1-2. Form of Deed of Trust; Memorandum of Deed of Trust May Be Recorded
§38-1-3. Sales Under Trust Deeds
§38-1-4a. Statute of Limitations for Sales by Trustees
§38-1-6. Form of Trustee's Deed
§38-1-7. Application of Proceeds; Action to Recover a Deficiency
§38-1-8. Return of Account of Sale; Forfeiture of Commissions on Failure to Account
§38-1-8a. Reports by Trustee to County Clerk; Additional Information to Be Filed With Report of Sale
§38-1-9. Recordation of Account of Trustee
§38-1-10. Who May Require Trustee to Give Bond; New Trustee on Failure to Give; Notice
§38-1-11. Amount and Approval of Bond of Trustee; Recordation; Effect of Failure to Give
§38-1-12. Bond of New Trustee Appointed by Court; Recordation
§38-1-13. Substitution of Trustees Under a Trust Deed Securing a Debt
§38-1-15. Validity of Deed of Trust Upon Renewal of Loan
§38-1-16. Sale of Real Property Pursuant to a Deed of Trust; Preexisting Tenancy