I concur in the majority opinion, except as to part III. These writ proceedings concern lawsuits against lenders who loaned the real parties money secured by deeds of trust on their real property. Real parties seek recovery of a statutory penalty under Civil Code section 2941 based on the lenders’ alleged failure to record deeds *1251of reconveyance after the underlying debts were satisfied. In part II of the majority opinion, my colleagues hold that the one-year statute of limitations contained in Code of Civil Procedure section 340, subdivision (1) (all further statutory references are to the Code of Civil Procedure unless otherwise specified) applies to these actions. I agree with this conclusion. But in part III, the majority holds that under the rule of discovery, real parties may amend their complaints to allege facts which would support a delay in the accrual of their causes of action. I disagree with this conclusion. In my opinion real parties’ actions are barred by the statute of limitations.
We start with the proposition that statutes of limitation are the prerogative of the Legislature. (Valley Circle Estates v. VTN Consolidated, Inc. (1983) 33 Cal.3d 604, 615 [189 Cal.Rptr. 871, 659 P.2d 1160]; Scheas v. Robertson (1951) 38 Cal.2d 119, 125 [238 P.2d 982].) When interpreting them, courts are obligated to give effect to the plain meaning of statutory language. (O’Neill v. Tichy (1993) 19 Cal.App.4th 114, 120 [25 Cal.Rptr.2d 162].) Thus, as section 312 declares, “Civil actions, without exception, can only be commenced within the periods prescribed in this title, after the cause of action shall have accrued, unless where, in special cases, a different limitation is prescribed by statute.” (Italics added.)
Generally, a cause of action accrues when, under the substantive law, a party can prosecute a lawsuit for a wrongful act. (Romano v. Rockwell Internat., Inc. (1996) 14 Cal.4th 479, 487 [59 Cal.Rptr.2d 20, 926 P.2d 1114]; Lee v. Bank of America (1994) 27 Cal.App.4th 197, 205 [32 Cal.Rptr.2d 388]; 3 Witkin, Cal. Procedure (4th ed. 1996) Actions, § 459, p. 580.) In Neel v. Magana, Olney, Levy, Cathcart & Gelfand (1971) 6 Cal.3d 176 [98 Cal.Rptr. 837, 491 P.2d 421], the Supreme Court stated the statute of limitations ordinarily “begins to run upon the occurrence of the last element essential to the cause of action.” (Id. at p. 187.)
There are three exceptions to this general rule: (1) The statute of limitations is tolled, generally because the plaintiff is under a disability; (2) the defendant is estopped from relying on the statute of limitations; and (3) the accrual of the cause of action is, for some reason, delayed beyond the occurrence of the last element essential to the cause of action. (3 Witkin, Cal. Procedure, supra, Actions, §§ 462, 633, 685, pp. 582-583, 812-813, 872-873.) Real parties do not contend that either of the first two exceptions applies here. Rather, they and the majority rely on the third exception: delayed accrual of their causes of action pursuant to the discovery rule. This rule postpones the accrual of a cause of action under certain circumstances until a plaintiff discovers, or through the exercise of reasonable diligence should have discovered, the facts giving rise to the cause of action.
*1252Statutes provide for the discovery rule in connection with certain actions, such as fraud (§ 338, subd. (d)), attorney malpractice (§ 340.6), sexual abuse of a minor (§ 340.1), and medical malpractice (§ 340.5). In Parsons v. Tickner (1995) 31 Cal.App.4th 1513 [37 Cal.Rptr.2d 810], one of the cases relied upon by the majority, the court applied section 338, subdivision (d), where defendants fraudulently concealed the facts upon which the cause of action was based. (31 Cal.App.4th at pp. 1524-1527.)
Our Supreme Court has also applied the discovery rule in cases where a special relationship exists between the parties. (Huysman v. Kirsch (1936) 6 Cal.2d 302, 312 [57 P.2d 908].) In Neel v. Magana, Olney, Levy, Cathcart & Gelfand, supra, 6 Cal.3d 176, which preceded the adoption of section 340.6, the court applied it to legal malpractice actions, based on the nature of and the manner in which legal services are provided, the lay plaintiff’s general inability to recognize malpractice by an attorney, and the fiduciary nature of the parties’ relationship. (6 Cal.2d at pp. 188-189.) In support of its holding, Neel cited a line of cases applying the discovery rule to cases involving either malpractice committed by other professionals or the breach of a fiduciary duty. (Id, at pp. 186-187.)
Case law also justifies application of the discovery rule in certain pharmaceutical and product defect cases involving imperceptible injuries when the victim “as a reasonably prudent and intelligent person could not, without specialized knowledge, have been made aware of [the cause of injury].” (Warrington v. Charles Pfizer & Co. (1969) 274 Cal.App.2d 564, 570 [80 Cal.Rptr. 130]; also see San Francisco Unified School Dist. v. W. R. Grace & Co. (1995) 37 Cal.App.4th 1318 [44 Cal.Rptr.2d 305].) Intentional concealment by the defendant also justifies application of the discovery rule. (See Bernson v. Browning-Ferris Industries (1994) 7 Cal.4th 926 [30 Cal.Rptr.2d 440, 873 P.2d 613].) However, mere silence does not constitute concealment in the absence of a fiduciary or confidential relationship between the parties, or “unless some specially appearing circumstances are shown which of themselves equitably estop a person from relying on his silence or inaction, and which of themselves are sufficient to create on the part of the nonrevealor a positive duty to speak or act . . . .” (Scafidi v. Western Loan & Bldg. Co. (1946) 72 Cal.App.2d 550, 562 [165 P.2d 260].)
None of the circumstances justifying application of the judicially created exceptions to the general rule are present here. There is no special relationship, fiduciary or otherwise, between the petitioners and real parties. “The deed of trust constitutes a contract between the trustor and the beneficiary, with the trustee acting as agent for both and acting pursuant to the terms *1253of the instrument and their instructions.” (Hatch v. Collins (1990) 225 Cal.App.3d 1104, 1111 [275 Cal.Rptr. 476]; see also Siegel v. American Savings & Loan Assn. (1989) 210 Cal.App.3d 953, 957 [258 Cal.Rptr. 746].) The trust deed does not create a fiduciary relationship between the trustor and the beneficiary. (Lineker v. McColgan (1921) 54 Cal.App. 771, 774 [202 P. 936].) Neither are any of the circumstances involved in the other judicially recognized justifications for the application of the discovery rule present here. Nevertheless, relying on Evans v. Eckelman (1990) 216 Cal.App.3d 1609 [265 Cal.Rptr. 605] and April Enterprises, Inc. v. KTTV (1983) 147 Cal.App.3d 805 [195 Cal.Rptr. 421], the majority concludes that the discovery rule may be invoked because plaintiffs encountered difficulty in unearthing facts constituting the cause of action. While these cases contain dictum which might support such a conclusion, in my opinion such dictum constitutes an incorrect statement of the law. Mere difficulty in ascertaining the facts constituting a cause of action does not justify application of the discovery rule, absent one of the circumstances discussed above.
April Enterprises involved a television program producer’s action against a television station seeking damages for breach of the implied covenant of fair dealing and breach of fiduciary duty based on the station’s erasing videotapes of a program assertedly in violation of plaintiff’s syndication rights. The complaint alleged that plaintiff discovered the erasures in 1976. Defendant claimed the tapes had been erased in 1970 or 1972 and, in the trial court, successfully argued the action was barred by the statute of limitations. Citing the alleged fiduciary relationship between the parties, the Court of Appeal concluded that the discovery rule applied to both causes of action and reversed the judgment. (April Enterprises, Inc. v. KTTV, supra, 147 Cal.App.3d at pp. 827-828.)
Next, quite unnecessary to its holding, April Enterprises concluded . . the discovery rule has replaced the date-of-injury accrual rule in a growing number of actions in California.” (April Enterprises, Inc. v. KTTV, supra, 147 Cal.App.3d at p. 828.) After citing a number of cases involving professional malpractice, latent defects in real estate development projects, the negligent manufacture of drugs which the defendant represented to be safe and other actions where the defendant allegedly concealed its tortious conduct (id. at pp. 828-831), April Enterprises concluded “[a] common thread” running “through ... the types of actions where courts have applied the discovery rule,” is that “[t]he injury or the act causing the injury . . . ha[s] been difficult for the plaintiff to detect.” (Id. at p. 831.)
The cases cited by April Enterprises do not support the broad general rule enunciated by it. Each of them involved situations where either the plaintiff *1254relied on a defendant’s professional expertise, or the defendant in some manner concealed material facts from the plaintiff. Subsequent decisions purportedly following April Enterprises have also involved either fiduciary relationships, active concealment of material facts, or specific statutory exceptions. (See, e.g., Cross v. Bonded Adjustment Bureau (1996) 48 Cal.App.4th 266, 281 [55 Cal.Rptr.2d 801] [fiduciary relationship, misrepresentation]; Naftzger v. American Numismatic Society (1996) 42 Cal.App.4th 421, 428, 435 [49 Cal.Rptr.2d 784] [special statute relating to the recovery of stolen property]; Lee v. Escrow Consultants, Inc. (1989) 210 Cal.App.3d 915, 922 [259 Cal.Rptr. 117] [fiduciary relationship, misrepresentation].)
Evans v. Eckelman, supra, 216 Cal.App.3d 1609 does not support the majority either. That decision relied on April Enterprises, Inc. v. KTTV, supra, 147 Cal.App.3d 805 to reverse the dismissal of an action for childhood sexual abuse brought by adult nephews against an uncle who temporarily had custody of them while they were minors. At the time, section 340.1 required the action be filed within three years of the act. However, citing a subdivision of the statute which then declared “ ‘[njothing in this bill is intended to preclude the courts from applying delayed discovery exceptions to the accrual of a cause of action for sexual molestation of a minor,’ ” the Court of Appeal concluded, “[t]he Legislature thus has disavowed any intent to interfere with the judicial determination of whether the delayed discovery rule should apply.” (Evans v. Eckelman, supra, 216 Cal.App.3d at p. 1614.) Then, noting the “confidential” nature of the parent-child relationship, and “the unique duties and authority held by the parent,” the court found this action analogous to cases involving either “professional negligence” or a defendant’s concealment of its tortious conduct from the victim. (Id. at p. 1616.)
To the extent April Enterprises and Evans suggest there is a broad rule applying the discovery rule to the statute of limitations whenever it is difficult for a plaintiff to ascertain the facts constituting a cause of action, the cases violate the legislative mandate contained in section 312, demanding that, except as authorized by statute “. . . civil actions can only be commenced within the periods prescribed in this title.” Statutes of limitations are more than mere “technical defenses” which courts should attempt to circumvent in order to give parties their day in court. They serve salutary purposes in requiring “diligent prosecution of known claims so that legal affairs can have their necessary finality and predictability and so that claims can be resolved while evidence remains reasonably available and fresh.” (Jordache Enterprises, Inc. v. Brobeck, Phleger & Harrison (1998) 18 Cal.4th 739, 756 [76 Cal.Rptr.2d 749, 958 P.2d 1062].)
*1255Finally, even if a delayed discovery rule were legally appropriate, the facts here do not support its application. Witkin explains that “constructive and presumed notice or knowledge are equivalent to knowledge. So, when the plaintiff has . . . the opportunity to obtain knowledge from sources open to his investigation (such as public records . . .), the statute commences to run.” (3 Witkin, Cal. Procedure, supra, Actions, § 602, 773; see also Lee v. Escrow Consultants, Inc. (1989) 210 Cal.App.3d 915, 920 [259 Cal.Rptr. 117]; Parsons v. Tickner, supra, 31 Cal.App.4th at p. 1525.) Failure to examine a public record can hardly qualify as an exercise of reasonable diligence.
The gravamen of the complaints at issue is that petitioners failed to timely record deeds of reconveyance after real parties satisfied the underlying debts. Recording a document consists of copying it in a record book and indexing the instrument under the parties’ names. (Gov. Code, §§ 27257, 27322 et seq.) All real parties had to do was go to the county recorder’s office and look for their names in the indices. We must assume the average property owner is intelligent enough to review public records and determine whether a deed of reconveyance was filed. Thus, real parties’ assertion the recording system is too complex for nonprofessionals to utilize lacks merit.
The majority also cites letters sent by title insurance companies, which expressed an intent to record releases of obligation, to support the proposition real parties’ failure to inquire was reasonable. Just the opposite is true. Under Civil Code section 2941, once the debtor has satisfied the underlying obligation, the lender must execute and deliver the original note, trust deed, and a request for reconveyance to the trustee who must then execute and record a deed of reconveyance within 21 days. (Civ. Code, § 2941, subd. (b)(1).) If the trustee fails to comply with its statutory obligations within 60 days, the lender must, at the debtor’s request, substitute itself or another entity as the trustee and issue the reconveyance. (Civ. Code, § 2941, subd. (b)(2).) Section 2941, subdivision (b)(3) then declares “If a full reconveyance has not been executed and recorded pursuant to either paragraph (1) or paragraph (2) within 75 calendar days of satisfaction of the obligation, then a title insurance company may prepare and record a release of the obligation. . . .”
As explained in Trustors Security Service v. Title Recon Tracking Service (1996) 49 Cal.App.4th 592 [56 Cal.Rptr.2d 793], “Section 2941, subdivision (b)(3) provides what is essentially a second fallback provision to be employed as a last resort after the preferred methods have failed to reconvey title. If neither the preferred method nor the first alternative method results *1256in a reconveyance of title within 75 days of satisfaction of an obligation secured by a deed of trust, then title insurers are authorized, after notice to the lender/beneficiary, trustor and trustee, to file a ‘release of obligation.’ [f] This statutory scheme implies title insurers are only authorized to act in the event the lender/beneficiary and trustee have both failed to issue a reconveyance despite the opportunity to do so. . . .” (Id. at pp. 601-602.) In other words, a debtor who receives a letter from a title insurer declaring an intent to file a release of obligation is effectively placed on notice the lender has failed to satisfy its obligations under Civil Code section 2941.
I would find real parties’ actions barred by the one-year statute of limitations contained in section 340, subdivision (1).
A petition for a rehearing was denied October 29, 1998, and the opinion was modified to read as printed above.