This article discusses a California case holding that the trustee under a deed of trust merely acts as a common agent for the parties and owes no fiduciary obligation to third parties. Later purchasers are expected to discover the trustee’s lack of authority to sell from their own search of the records.
Bernhardt, Roger, "Foreclosure Trustees and Fiduciary Duties Heritage Oaks Partners v First Am. Title Ins. Co. (2007)" (2007). Publications. 295.