A lender in Washington State initiates a non-judicial foreclosure on a residential property secured by a deed of trust. Which of the following correctly describes the role of the trustee in Washington's foreclosure process under RCW 61.24?
Correct Answer
D) The trustee is a neutral third party who holds legal title and conducts the sale without court involvement when the borrower defaults.
Under RCW 61.24, Washington uses a deed of trust as the primary security instrument. In a deed of trust, the borrower (trustor) conveys legal title to a neutral third-party trustee who holds title on behalf of the lender (beneficiary). Upon default, the trustee has the power of sale and can conduct a non-judicial trustee's sale without court involvement, which is the defining feature of Washington's foreclosure system.
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