Section 40.5 – Partial reconveyance of trust deed or release of mortgage — Procedures — Forms.
57-1-40.5. Partial reconveyance of trust deed or release of mortgage — Procedures — Forms. (1) (a) If a trustor or mortgagor pledges more than one parcel of real property as collateral under a trust deed or mortgage, the beneficiary, mortgagee, or servicer may agree for a sum certain to release a portion of the real […]
Section 41 – Objections to reconveyance or release.
57-1-41. Objections to reconveyance or release. A title insurer or title agent may not record a reconveyance of trust deed or release of mortgage if, within 60 days from the day on which the title insurer or title agent delivered or mailed the notice of intent to release or reconvey in accordance with Subsections 57-1-40(3) […]
Section 42 – Liability of title insurer or title agent.
57-1-42. Liability of title insurer or title agent. A title insurer or title agent purporting to act under the provisions of Section 57-1-40 who reconveys a trust deed or releases a mortgage is liable to the beneficiary or mortgagee for the damages suffered as a result of the reconveyance if: (1) the obligation secured by […]
Section 43 – Application of provisions.
57-1-43. Application of provisions. The provisions of Sections 57-1-39 through 57-1-42 apply to any obligation secured by a trust deed or mortgage that was paid prior to, on, or after May 1, 1995. Enacted by Chapter 185, 1995 General Session
Section 44 – Other sections not affected.
57-1-44. Other sections not affected. Sections 57-1-39 through 57-1-43 do not excuse a beneficiary, mortgagee, trustee, secured lender, or servicer from complying with the provisions of Section 57-1-38. Enacted by Chapter 185, 1995 General Session
Section 45 – Boundary line agreements.
Effective 5/4/2022 57-1-45. Boundary line agreements. (1) An agreement to adjust a known boundary between adjoining properties shall comply with Section 10-9a-524 or 17-27a-523, as applicable. (2) A recorded boundary line agreement to establish the location of a boundary between adjoining properties where the location of the boundary is ambiguous, uncertain, or disputed shall comply […]
Section 46 – Transfer fee and reinvestment fee covenants.
57-1-46. Transfer fee and reinvestment fee covenants. (1) As used in this section: (a) “Association expenses” means expenses incurred by a common interest association for: (i) the administration of the common interest association; (ii) the purchase, ownership, leasing, construction, operation, use, administration, maintenance, improvement, repair, or replacement of association facilities, including expenses for taxes, insurance, […]
Section 37 – Failure to disclose not a basis for liability.
57-1-37. Failure to disclose not a basis for liability. (1) The failure of an owner of real property to disclose that the property being offered for sale is stigmatized is not a material fact that must be disclosed in the transaction of real property. (2) Neither an owner nor his agent is liable for failing […]
Section 38 – Release of security interest.
57-1-38. Release of security interest. (1) As used in this section: (a) “Revolving credit line” means an agreement between the borrower and a secured lender who agrees to loan the borrower money on a continuing basis so long as the outstanding principal amount owed by the borrower does not exceed a specified amount. (b) “Secured […]
Section 39 – Definitions.
57-1-39. Definitions. As used in Sections 57-1-40 and 57-1-44: (1) “Beneficiary” means the record owner of the beneficiary’s interest under a trust deed, including successors in interest. (2) “Deliver” or “delivered” means by: (a) overnight delivery by a reputable carrier; (b) United States certified mail or express mail; (c) hand delivery with receipt acknowledged in […]