§ 18-50-107. Manner of sale
(a) The sale shall be held on the date and at the time and place designated in the notice of default and intention to sell, except that the sale shall: (1) Be held between 9:00 a.m. and 4:00 p.m.; (2) Be held either at the premises of the trust property or at the front door […]
§ 18-50-108. Effect of sale
(a) (1) A sale made by a mortgagee or trustee shall foreclose and terminate all interest in the trust property of all persons to whom notice is given under § 18-50-104 and of any other person claiming by, through, or under the person. A failure to give notice to any person entitled to notice shall […]
§ 18-50-109. Disposition of proceeds of sale
The trustee or mortgagee shall apply the proceeds of the sale as follows: (1) To the expenses of the sale, including compensation of the trustee or mortgagee and a reasonable fee by the attorney; (2) To the indebtedness owed; (3) To all persons having recorded liens subsequent to the interest of the trustee or mortgagee […]
§ 18-50-111. Form and effect of trustee’s or mortgagee’s deed
(a) (1) The trustee’s or mortgagee’s deed shall contain recitals of compliance with the requirements of this chapter relating to the exercise of the power of sale and sale of the trust property, including recitals concerning mailing and publication of notice of default and intention to sell and the conduct of the sale. (2) Upon […]
§ 18-50-112. Deficiency judgment
(a) (1) At any time within twelve (12) months after a sale under this chapter, a money judgment may be sought for the balance due upon the obligation for which a mortgage or deed of trust was given as security. (2) In such action, the plaintiff shall set forth in his or her complaint, and […]
§ 18-50-113. Request for notice
(a) At any time subsequent to the recordation of a mortgage or deed of trust and prior to a recording of a notice of default and intention to sell under the mortgage or deed, any person desiring a copy of any such notice may file for record with the recorder of the county where the […]
§ 18-50-114. Reinstatement of mortgage or deed of trust
(a) (1) Whenever all or a portion of the principal sum of any obligation secured by a mortgage or deed of trust, prior to the maturity date fixed in such obligation, has become due or has been declared due by reason of a breach or default in the performance of any obligation secured by the […]
§ 18-50-115. Implied powers in mortgages
(a) (1) Subject to the provisions of § 18-50-114 and notwithstanding the terms of the mortgage, a power of sale is implied in every mortgage of real property situated in this state that is duly acknowledged and recorded. (2) The exercise of the implied power of sale shall be pursuant to the provisions of this […]
§ 18-50-116. Miscellaneous provisions
(a) The procedures set forth in this chapter for the foreclosure of a mortgage or deed of trust shall not impair or otherwise affect the right to bring a judicial action to foreclose a mortgage or deed of trust. (b) A notice of default and intention to sell shall be filed within the time the […]
§ 18-50-117. Foreign corporations and other entities
No person, firm, company, association, fiduciary, or partnership, either domestic or foreign, shall avail themselves of the procedures under this chapter unless authorized to do business in this state.