Posted by Kristine-CA on June 04, 2009 at 10:47:01:
In Reply to: Re: Deceased lender posted by Jimmy on June 04, 2009 at 06:51:34:
Your 99% certainty is correct, to a point. It's a 4 year SOL on
promissory notes in CA. However, the power to sale in a deed of trust
securing the note is not extinguished. There was a marketable title act
in CA that changed this so that SOL on a promissory note secured by a
DOT is 10 years after the final maturity date, or 60 years after
recording if final maturity date cannot be determined. Hurray.Washington has a six year SOL on promissory notes. My guess is that
WA also has DOT power to sale provisions to which SOL do not apply.