33-741. Definitions In this article, unless the context otherwise requires: 1. " Account servicing agent" means a joint agent of seller and purchaser, appointed under the contract or under a separate agreement executed by the seller and the purchaser, to hold documents and collect monies due under the contract, who does business under the laws […]
33-742. Forfeiture of interest of purchaser in default under contract A. If a purchaser is in default by failing to pay monies due under the contract, a seller may, after expiration of the applicable period stated in subsection D of this section and after serving the notice of election to forfeit stated in section 33-743, […]
33-743. Notice of election to forfeit and reinstatement of purchaser’s interest A. If the seller elects to forfeit the purchaser’s interest in the property, the seller and the account servicing agent, if one has been appointed, shall record a notice of election to forfeit with the county recorder of the county in which the real […]
33-744. Completion of forfeiture by judicial process At any time after expiration of the period provided for in the notice of election to forfeit, the seller may complete the forfeiture of the interest of the purchaser and persons having an interest in or a lien or encumbrance on the property, the priority of which is […]
33-745. Completion of forfeiture by notice A. If an account servicing agent has been appointed to hold documents and collect monies due under the contract and the agent has recorded and served the notice of election to forfeit, as provided in section 33-743, the seller and account servicing agent may complete the forfeiture of the […]
33-746. Request for copy of notice of election to forfeit A. Any person, including, without limitation, a person in possession of the property or having an interest in or a lien or encumbrance on the property, which is not disclosed by a document recorded with the county recorder of the county in which the real […]
33-747. Appointment of successor account servicing agent A. If a person appointed as account servicing agent fails to qualify or is unwilling or unable to serve, the seller may appoint a successor account servicing agent, and the appointment constitutes a substitution of account servicing agent. B. The seller may at any time remove an account […]
33-748. Seller’s right to foreclose A. If a contract provides that the seller may elect to accelerate the unpaid principal balance due to seller on the purchaser’s failure to pay the monies due under the contract, the seller may only enforce the acceleration by foreclosing the contract in the manner provided by law for foreclosure […]
33-749. Other remedies A. The seller may maintain an action against any person, including the purchaser, for a claim for relief if damages or injury occurs, or may occur, to the property, including without limitation, an action for damages, or to prevent any of the following: 1. Physical abuse to or distribution of the property. […]
33-750. Conveyance by seller; payment in full; payoff deed A. A seller who is entitled to payment and who receives full payment of all monies due under the contract shall deliver to the person who made full payment a payoff deed that conveys to the purchaser the real property described in the contract. The deed […]
