Section 45-1514 – RECONVEYANCE UPON SATISFACTION OF OBLIGATION.
45-1514. RECONVEYANCE UPON SATISFACTION OF OBLIGATION. Upon performance of the obligation secured by the deed of trust, the trustee upon written request of the beneficiary shall reconvey the estate of real property described in the deed of trust to the grantor; providing that in the event of such performance and the refusal of any beneficiary […]
Section 45-1502 – DEFINITIONS — TRUSTEE’S CHARGE.
45-1502. DEFINITIONS — TRUSTEE’S CHARGE. As used in this act: (1) "Beneficiary" means the person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or his successor in interest, and who shall not be the trustee. (2) "Grantor" means the person conveying real property by […]
Section 45-1515 – TIME LIMITS FOR FORECLOSURE.
45-1515. TIME LIMITS FOR FORECLOSURE. The foreclosure of a trust deed by advertisement and sale shall be made and the foreclosure of a trust deed by judicial procedure shall be commenced within the time limited by the same period and according to the same provisions including extensions as provided by law for the foreclosure of […]
Section 45-1503 – TRANSFERS IN TRUST TO SECURE OBLIGATION — FORECLOSURE.
45-1503. TRANSFERS IN TRUST TO SECURE OBLIGATION — FORECLOSURE. (1) Transfers in trust of any estate in real property as defined in section 45-1502(5), Idaho Code, may hereafter be made to secure the performance of an obligation of the grantor or any other person named in the deed to a beneficiary. Where any transfer in […]
Section 45-1601 – LEGISLATIVE FINDINGS.
45-1601. LEGISLATIVE FINDINGS. The legislature finds that some persons and businesses are engaging in patterns of conduct that defraud innocent homeowners of their title, equity interest, or other value in residential dwellings under the guise of stopping or postponing a foreclosure sale. The legislature also finds this activity to be contrary to the public policy […]
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 […]