Utah Foreclosure Laws

Although the laws that govern the foreclosure process in this state are fairly common and there is nothing outstanding in the way of special rules or guidelines, the amount of time that it takes a lender to complete a foreclosure by either the judicial or non-judicial method in the state of Utah is going to vary somewhat considerably

Typically in a judicial foreclosure the lender has to file 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.

In the event that the power of sale clause includes the time, place, and terms of sale, that procedure must be followed. Otherwise the procedure will continue with a notice of sale being published for three consecutive weeks in a local newspaper, with the last publication no less than ten days and no more than thirty days before the date of sale. A copy of this same 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.

A right of redemption may be granted, with the length of time set at the court’s discretion. On a deficiency judgement here 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.

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