LEO: Trustee's Fee - Foreclosure on Deed  LE Op. 912

 

Trustee's Fee - Foreclosure on Deed of Trust.

 

June 11, 1987

 

It is not per se improper for an attorney to charge a noteholder a sum in

excess of the 5% trustee's fees to foreclose on a deed of trust so long as

the debtor is charged in the accounting with only the 5% called for in a

deed of trust, and provided that the noteholder makes no charges against

the debtor in excess of 5% of the gross sales price. The committee bases

this opinion on the assumption that there is an agreement of sound basis

between the attorney and client. [ DR:2-105(A)]

 

Committee Opinion June 11, 1987