§ 36.4287. Substitution of trustees.
66 words·~1 min read·
/us/cfr/t38/s§ 36.4287·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In jurisdictions in which valid, any deed of trust or mortgage securing a guaranteed loan, if it names trustees or confers a power of sale otherwise, shall contain a provision empowering any holder of the indebtedness to appoint substitute trustees or other person with such power to sell, who shall succeed to all the rights, powers, and duties of the trustees, or other person, originally designated.