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Terms Used In Idaho Code 45-1202

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • reconvey: means a reconveyance of a trust deed. See Idaho Code 45-1201
  • Title agent: means a title insurance agent duly licensed as an organization under chapter 27, title 41, Idaho Code. See Idaho Code 45-1201
  • Title insurer: means a title insurer duly authorized to conduct business in the state of Idaho under title 41, Idaho Code. See Idaho Code 45-1201
  • Trust deed: means a trust deed as defined in section 45-1502, Idaho Code. See Idaho Code 45-1201
  • Trustee: A person or institution holding and administering property in trust.
A title insurer or title agent may reconvey a trust deed pursuant to the procedure prescribed in section 45-1203, Idaho Code, if the obligation secured by the trust deed shall have been fully paid by the title insurer or title agent that is permitted to reconvey the trust deed pursuant to section 45-1203, Idaho Code, or such title insurer or title agent shall possess satisfactory evidence of such payment in full. A title insurer or title agent may provide a reconveyance under section 45-1203, Idaho Code, whether or not it is then named as trustee under a trust deed.