UTA Recommends Trustees Delay in Fee Increase Implementation

UTA-sponsored legislation (SB 983) that provided an increase of $50 in base trustees fees in Civil Code Sections 2924c and 2924d was signed into law by Governor Brown with the fee increase to take effect on January 1, 2017.  However, inconsistent language in the law conflated ‘$475’ in one section and ‘$425’ in another section of the language.  The changes to Section 2924d are incorrect for the trustee fee increase as they max the fee at $425 upon completion of the sale rather than the intended $475.  We believe that the inconsistency was merely a drafting error.

UTA is recommending that members take a conservative course and continue with the $425 figure for properties that go to sale until the matter is corrected. We will update and communicate as soon as we learn more.