Can I foreclose on someone's house without having to prove that I am the current beneficiary of the deed of trust?
5 Answers from Attorneys
Generally you need both the original note and deed of trust either naming you beneficiary or the originals together with an assignment naming you as assignee.
I agree with Mr. Hoffman. The trustee under the deed of trust is generally going to want to know if you have the note, or are the original beneficiary. The trustee is the one who conducts the sale.
You need the following:
1) The Original note and need of trust with you stated as beneficiary
2) All the original documents AND an assignment with YOU as assignee.
As far as the requirement of having the original note and deed of trust, I think California law allows a party that has lost these documents to proceed with foreclosure if they can and do post a bond that will indemnify the homeowner if it turns out the party doing the foreclosure didn't really have the power to foreclose. So, maybe you need to talk to a bonding company to see if they will provide you with the necessary bonding. Also, have a real estate lawyer research the question of whether you can "bond around" your lack of documents....my suggestion that this is possible is kind of a guess, based on a case I worked on many years ago.