Section 25 – Notice of trustee’s sale — Description of property — Time and place of sale.
Effective 5/12/2020 57-1-25. Notice of trustee’s sale — Description of property — Time and place of sale. (1) The trustee shall give written notice of the time and place of sale particularly describing the property to be sold: (a) by publication of the notice: (i) (A) at least three times; (B) at least once a […]
Section 26 – Requests for copies of notice of default and notice of sale — Mailing by trustee or beneficiary — Publication of notice of default — Notice to parties of trust deed.
Effective 5/10/2016 57-1-26. Requests for copies of notice of default and notice of sale — Mailing by trustee or beneficiary — Publication of notice of default — Notice to parties of trust deed. (1) (a) Any person desiring a copy of any notice of default and of any notice of sale under any trust deed […]
Section 27 – Sale of trust property by public auction — Postponement of sale.
Effective 5/10/2016 57-1-27. Sale of trust property by public auction — Postponement of sale. (1) (a) On the date and at the time and place designated in the notice of sale, the trustee or the attorney for the trustee shall sell the property at public auction to the highest bidder. (b) The trustee, or the […]
Section 28 – Sale of trust property by trustee — Payment of bid — Trustee’s deed delivered to purchaser — Recitals — Effect.
Effective 5/10/2016 57-1-28. Sale of trust property by trustee — Payment of bid — Trustee’s deed delivered to purchaser — Recitals — Effect. (1) (a) The purchaser at the sale shall pay the price bid as directed by the trustee. (b) The beneficiary shall receive a credit on the beneficiary’s bid in an amount not […]
Section 29 – Proceeds of trustee’s sale — Disposition.
Effective 5/9/2017 57-1-29. Proceeds of trustee’s sale — Disposition. (1) (a) The trustee shall apply the proceeds of a trustee’s sale in the following order: (i) first, to the costs and expenses of exercising the power of sale and of the sale, including the payment of the trustee’s and attorney fees actually incurred not to […]
Section 30 – Sale of trust property by trustee — Corporate stock evidencing water rights given to secure trust deed.
57-1-30. Sale of trust property by trustee — Corporate stock evidencing water rights given to secure trust deed. Shares of corporate stock evidencing water rights used, intended to be used, or suitable for use on the trust property and which are hypothecated to secure an obligation secured by a trust deed may be sold with […]
Section 31 – Trust deeds — Default in performance of obligations secured — Reinstatement — Cancellation of recorded notice of default.
Effective 5/5/2021 57-1-31. Trust deeds — Default in performance of obligations secured — Reinstatement — Cancellation of recorded notice of default. (1) (a) Whenever all or a portion of the principal sum of any obligation secured by a trust deed has, prior to the maturity date fixed in the obligation, become due or been declared […]
Section 21.5 – Trustees of trust deeds — Duties — Prohibited conduct — Penalties.
57-1-21.5. Trustees of trust deeds — Duties — Prohibited conduct — Penalties. (1) Until a beneficiary under a trust deed or the beneficiary’s agent provides a trustee of the trust deed written instructions directing the trustee to exercise powers under this chapter, the trustee has no duty or obligation to the beneficiary or to the […]
Section 22 – Successor trustees — Appointment by beneficiary — Effect — Substitution of trustee — Recording — Form.
Effective 5/10/2016 57-1-22. Successor trustees — Appointment by beneficiary — Effect — Substitution of trustee — Recording — Form. (1) (a) The beneficiary may appoint a successor trustee at any time by filing an appointment of trustee or a substitution of trustee for record in the office of the county recorder of each county in […]
Section 22.1 – Effect on trustee of a legal action involving a trust.
Effective 5/10/2016 57-1-22.1. Effect on trustee of a legal action involving a trust. (1) A party in a legal action that involves a trust deed is not required to join the trustee as a party in the action unless the legal action pertains to a breach of the trustee’s obligations under this chapter or under […]