New Idaho Law Requires Form Requirements for Rescission Notice

Legislation has been signed into law in Idaho that would provide form requirements for applicable rescission notice where a trustee’s sale is invalid due to bankruptcy stay or a stay order issued by any court of competent jurisdiction. It also provides that recording the notice of rescission of the trustee’s deed restores condition of title to the property and existence and priority of all lienholders to the status quo prior to recording the trustee’s deed. The legislation was signed into law on April 8th by Governor C.L. “Butch” Otter and is effective July 1st of this year.

Read a copy of the legislation as passed