Utah Foreclosure Laws
Attorney General's Office
236 State Capitol
Salt Lake City, UT 84114
Ph: (801) 538-1015
Fax: (801) 538-1121
Foreclosure Laws in Utah
Judicial Foreclosure: Yes
Non-Judicial Foreclosure: Yes
Security Instruments: Trust Deed / Mortgage
Right of Redemption: Court's Discretion
Deficiency Judgments: Yes
Time Frame: Varies
Public Notice: Notice of Default
Judicial foreclosure: The lender files a complaint against the borrower in a court within the county in which the property is located. The court will allow the borrower a set time to cure the default. If the borrower fails to do so, the court must issue a decree of sale before the actual foreclosure can proceed.
Non-judicial foreclosure: Used when the loan document contains a power of sale clause that pre-authorizes the lender to sell the property in the event of the borrower’s default.
If the power of sale clause includes the time, place, and terms of sale, that procedure must be followed. Otherwise the procedure is as follows:
A notice of sale must be published for three consecutive weeks in a newspaper of general circulation, with the last publication no less than ten days and no more than thirty days before the date of sale. The notice must also be posted conspicuously on the subject property and at the county recorder’s office.
Public posting must be done at least twenty days prior to the sale. The notice must include the place and time of sale, and the sale must take place between 8 AM and 4 PM.
Right of redemption: May be granted by the court, with the length of time to redeem set at the court’s discretion on a case by case basis. There is no statutory length of the redemption period.
Deficiency judgment: Such judgments may be granted by the court, and the lender has the right to seize and hold the property until the difference between the foreclosure sale price and the loan balance is paid.
Civil Codes Section 57-1 – Trustee’s Procedures
Law which regulates the Trustees procedures, prohibited conduct and penalties.
Civil Codes Section 61-2 – Prohibits Encouraging foreclosure
Law which regulates lenders from abusing foreclosure.