Section 45-1504 – TRUSTEE OF TRUST DEED — WHO MAY SERVE — SUCCESSORS.
45-1504. TRUSTEE OF TRUST DEED — WHO MAY SERVE — SUCCESSORS. (1) The trustee of a trust deed under this act shall be: (a) Any member of the Idaho state bar; (b) Any bank or savings and loan association authorized to do business under the laws of Idaho or the United States; (c) An authorized […]
Section 45-1602 – CONTRACT NOTICE.
45-1602. CONTRACT NOTICE. (1) During the foreclosure period described in section 45-1506, Idaho Code, any contract or agreement with the owner or owners of record that involves the transfer of any interest in residential real property, as defined in section 45-525(5)(b), Idaho Code, subject to foreclosure must be in writing and must be accompanied by […]
Section 45-1505 – FORECLOSURE OF TRUST DEED, WHEN.
45-1505. FORECLOSURE OF TRUST DEED, WHEN. The trustee may foreclose a trust deed by advertisement and sale under this act if: (1) The trust deed, any assignments of the trust deed by the trustee or the beneficiary and any appointment of a successor trustee are recorded in mortgage records in the counties in which the […]
Section 45-1506 – MANNER OF FORECLOSURE — NOTICE — SALE.
45-1506. MANNER OF FORECLOSURE — NOTICE — SALE. (1) A trust deed may be foreclosed in the manner provided in this section. (2) Subsequent to recording notice of default as hereinbefore provided, and at least one hundred twenty (120) days before the day fixed by the trustee for the trustee’s sale, notice of such sale […]
Section 45-1506A – RESCHEDULED SALE — ORIGINAL SALE BARRED BY STAY — NOTICE OF RESCHEDULED SALE.
45-1506A. RESCHEDULED SALE — ORIGINAL SALE BARRED BY STAY — NOTICE OF RESCHEDULED SALE. (1) In the event a sale cannot be held at the time scheduled by reason of automatic stay provisions of the U.S. bankruptcy code (11 U.S.C. 362), or a stay order issued by any court of competent jurisdiction, then the sale […]
Section 45-1506B – POSTPONEMENT OF SALE — INTERVENTION OF STAY.
45-1506B. POSTPONEMENT OF SALE — INTERVENTION OF STAY. (1) If a stay as set out in subsection (1) of section 45-1506A, Idaho Code, which would otherwise have stopped a foreclosure sale is terminated or lifted prior to the date of sale, then any person having a right to reinstate the deed of trust pursuant to […]
Section 45-1506C – SUPPLEMENTAL NOTICE — OPPORTUNITY TO REQUEST LOAN MODIFICATION.
45-1506C. SUPPLEMENTAL NOTICE — OPPORTUNITY TO REQUEST LOAN MODIFICATION. (1) In the case of a loan made by a state or federally regulated beneficiary, which loan is secured by a deed of trust encumbering a borrower’s primary residential property for any noncommercial loan, the notice provided in this section shall accompany the notice of default […]
Section 45-1507 – PROCEEDS OF SALE — DISPOSITION.
45-1507. PROCEEDS OF SALE — DISPOSITION. The trustee shall apply the proceeds of the trustee’s sale as follows: (1) To the expenses of the sale, including a reasonable charge by the trustee and a reasonable attorney’s fee. (2) To the obligation secured by the trust deed. (3) To any persons having recorded liens subsequent to […]
Section 45-1508 – FINALITY OF SALE.
45-1508. FINALITY OF SALE. A sale made by a trustee under this act shall foreclose and terminate all interest in the property covered by the trust deed of all persons to whom notice is given under section 45-1506, Idaho Code, and of any other person claiming by, through or under such persons and such persons […]
Section 45-1509 – TRUSTEE’S DEED — FORM AND CONTENTS.
45-1509. TRUSTEE’S DEED — FORM AND CONTENTS. (1) The trustee’s deed to the purchaser at the trustee’s sale under this act shall conform to the requirements of subsection (2) of this section. (2) The trustee’s deed shall contain, in addition to a description of the property conveyed, a recital of the facts concerning the default, […]