Section 45-1201 - DEFINITIONSAs used in this chapter:
(1) "Beneficiary" means both the record owner of the beneficiary's interest under a trust deed, including successors in interest.(2) "Reconveyance" or "reconvey" means a reconveyance of a trust deed.(3) "Satisfactory evidence" of the full payment of an obligation secured by a trust deed means a payoff letter, the original cancelled check or a copy, including a voucher copy, of a check, payable to the beneficiary or a servicer, and reasonable documentary evidence that the check was intended to effect full payment under the trust deed or an encumbrance upon the property covered by the trust deed.(4) "Servicer" means a person or entity that collects loan payments on behalf of a beneficiary.(5) "Title agent" means a title insurance agent duly licensed as an organization under chapter 27, title 41, Idaho Code.(6) "Title insurer" means a title insurer duly authorized to conduct business in the state of Idaho under title 41, Idaho Code.(7) "Trust deed" means a trust deed as defined in section 45-1502, Idaho Code.[45-1201, added 1995, ch. 326, sec. 1, p. 1092.]