Idaho § 45-1201 - Definitions
Full text of Idaho Idaho Statutes § 45-1201 — Definitions, with citation guidance and answers to common questions.
§ 45-1201. Definitions
As used in this chapter:
(1) "Beneficiary" means both the record owner of the beneficiary’s interest under a trust deed, including successors in interest.
(2) "Reconveyance" or "reconvey" means a reconveyance of a trust deed.
(3) "Satisfactory evidence" of the full payment of an obligation secured by a trust deed means a payoff letter, the original cancelled check or a copy, including a voucher copy, of a check, payable to the beneficiary or a servicer, and reasonable documentary evidence that the check was intended to effect full payment under the trust deed or an encumbrance upon the property covered by the trust deed.
(4) "Servicer" means a person or entity that collects loan payments on behalf of a beneficiary.
(5) "Title agent" means a title insurance agent duly licensed as an organization under chapter 27, title 41 , Idaho Code.
(6) "Title insurer" means a title insurer duly authorized to conduct business in the state of Idaho under title 41 , Idaho Code.
(7) "Trust deed" means a trust deed as defined in section 45-1502 , Idaho Code.
[45-1201, added 1995, ch. 326, sec. 1, p. 1092.]
Frequently Asked Questions About Idaho § 45-1201
What does Idaho Statutes § 45-1201 cover?
Section 45-1201 ("Definitions") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 45-1201?
A common citation format is "Idaho Statutes § 45-1201" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 45-1201 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.