SB22-229 Summary

• Allows holders of original evidence of debt to request release of a deed of trust without producing or exhibiting the original evidence, provided they agree to indemnify the public trustee against claims for actual economic loss, court costs, and attorney fees.

• Requires holders of evidence of debt and title insurance companies to provide the public trustee with a current address for the original grantor, assuming party, or current owner when requesting a deed of trust release.

• Holders of evidence of debt that request release without producing original evidence must electronically file the request through the county's electronic recording system.

• Modifies the form and procedures for requesting deed of trust release to reflect that title insurance companies and debt holders can request release without original evidence under specified conditions.

• Takes effect 90 days after final adjournment of the general assembly, subject to voter approval in November 2022.