Section 20 – Transfers in trust of real property — Purposes — Effect.
57-1-20. Transfers in trust of real property — Purposes — Effect. Transfers in trust of real property may be made to secure the performance of an obligation of the trustor or any other person named in the trust deed to a beneficiary. All right, title, interest and claim in and to the trust property acquired […]
Section 21 – Trustees of trust deeds — Qualifications.
Effective 5/9/2017 57-1-21. Trustees of trust deeds — Qualifications. (1) (a) The trustee of a trust deed shall be: (i) any individual who is an active member of the Utah State Bar, or any entity in good standing that is organized to provide licensed professional legal services and employs an active member of the Utah […]
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 […]
Section 22.5 – Notice of assignment of beneficial interest.
57-1-22.5. Notice of assignment of beneficial interest. (1) A recorded notice of assignment of a beneficial interest, executed by the assigning beneficiary, is prima facie evidence of an assignment of the trust deed as described in the notice. (2) The notice of assignment of a beneficial interest shall: (a) state: (i) the names of the […]
Section 23 – Sale of trust property — Power of trustee — Foreclosure of trust deed.
57-1-23. Sale of trust property — Power of trustee — Foreclosure of trust deed. The trustee who is qualified under Subsection 57-1-21(1)(a)(i) or (iv) is given the power of sale by which the trustee may exercise and cause the trust property to be sold in the manner provided in Sections 57-1-24 and 57-1-27, after a […]
Section 11 – Claimant out of possession may convey.
57-1-11. Claimant out of possession may convey. Any person claiming title to any real estate may, notwithstanding there may be an adverse possession thereof, sell and convey his interest therein in the same manner and with the same effect as if he were in the actual possession thereof. No Change Since 1953
Section 12 – Form of warranty deed — Effect.
57-1-12. Form of warranty deed — Effect. (1) Conveyances of land may be substantially in the following form: WARRANTY DEED ____ (here insert name), grantor, of ____ (insert place of residence), hereby conveys and warrants to ____ (insert name), grantee, of ____ (insert place of residence), for the sum of ____ dollars, the following described […]
Section 12.5 – Form of special warranty deed — Effect.
57-1-12.5. Form of special warranty deed — Effect. (1) Conveyances of land may be substantially in the following form: SPECIAL WARRANTY DEED ____ (here insert name), grantor, of ____ (insert place of residence), hereby conveys and warrants against all who claim by, through, or under the grantor to ____ (insert name), grantee, of ____ (insert […]