Smith v. Credico Industrial Loan Co.

The majority characterizes Morin, a named trustee in a deed of trust, as a seller of this property. However, the majority minimizes the fact that Morin did not perform any acts as trustee in execution of the trust deed. The deed of trust in this case names two trustees “either of whom may act alone.” Code § 55-60(10) expands this language by providing:

The words ‘any trustee may act,' or words of similar purport, shall be construed as if the deed set forth: ‘The grantors, and all interested in the obligations hereby secured, by accepting the benefits hereof, agree that all authority, power and…