Preparation
of Deed of Trust by Bank Personnel;
Bank House Counsel as Trustee.
It
is not the unauthorized practice of law for bank
personnel to prepare deeds of trust with the bank
as sole beneficiary. Care must be taken to distinguish
this situation from former UPL Opinion No. 40, which denied this right
to a mortgage brokerage business because such
firm was not a necessary party to the deed of
trust.
It
is not the unauthorized practice of law for house
counsel for the bank to be named as trustee in
a deed of trust and possess all powers of a trustee
there under, where his bank/employer is the beneficiary.
Committee
Opinion
November
3, 1980
