ID H0503

Revises the definition of "trustee" in Idaho Code Section 45-1502 to clarify that a trustee holds legal title to real property for the limited purpose of exercising the power of sale and the obligation to reconvey the deed of trust upon satisfaction of the obligation.

Specifies that all other incidents of ownership of the real property remain with the grantor, and clarifies that a trustee is not a party requiring notice of sale under Idaho Code Section 45-1506(2)(c).

Permits trustees to charge reasonable fees for duties and services performed under the trust deed, including reconveyance compensation, notwithstanding any deed of trust provisions that prohibit or limit such fees.

Allows trustees to refuse to reconvey a deed of trust until all reconveyance fees and recording costs are paid in full.

Prohibits trustees from charging foreclosure fees in cases of judicial foreclosure or work performed prior to recording a notice of default, but allows a reasonable fee if the default is cured before the final newspaper publication of the notice of sale.