Title 33, Property

A. If a person appointed as trustee fails to qualify, is unwilling or unable to serve or resigns as trustee or if a trustee was not designated in the deed of trust, the beneficiary may appoint a successor trustee, and such appointment shall constitute a substitution of trustee. B…

Deeds of trust may be executed as security for the performance of a contract or contracts. Except with respect to chapter 6 of this title, statutes of this state which refer to mortgages as security instruments are deemed to also include deeds of trust, unless the context otherwi…

A. Transfers of trust property may be made to secure the performance of a contract or contracts of the trustor or any other person. An interest in the trust property acquired by the trustor subsequent to the execution of the trust deed shall inure to the trustee as security for t…

A. Nothing in this article shall be construed to prevent or limit the right of a trustor to transfer his interest in the trust property, or authorize a beneficiary or trustee to arbitrarily withhold his consent to a transfer by the trustor of his interest in the trust property. B…

A. By virtue of his position, a power of sale is conferred upon the trustee of a trust deed under which the trust property may be sold, in the manner provided in this chapter, after a breach or default in performance of the contract or contracts, for which the trust property is c…

A. The trustee shall give written notice of the time and place of sale legally describing the trust property to be sold by each of the following methods: 1. Recording a notice in the office of the recorder of each county where the trust property is situated. 2. Giving notice as p…

A. A person desiring a copy of a notice of sale under a trust deed, at any time subsequent to the recording of the trust deed and prior to the recording of a notice of sale pursuant thereto, shall record in the office of the county recorder in any county in which part of the trus…

A. On the date and at the time and place designated in the notice of sale, the trustee shall offer to sell the trust property at public auction for cash to the highest bidder. The trustee may schedule more than one sale for the same date, time and place. The attorney or agent for…

A. The highest bidder at the sale, other than the beneficiary to the extent of the credit bid, shall pay the price bid by no later than 5:00 p.m. mountain standard time of the following day, other than a Saturday or legal holiday. If the highest bidder fails to pay the amount bid…

A. The trustee shall apply the proceeds of the trustee's sale in the following order of priority: 1. To the costs and expenses of exercising the power of sale and the sale, including the payment of the trustee's fees and reasonable attorney fees actually incurred. 2. To the payme…

A. If, prior to the maturity date fixed by the contract or contracts, all or a portion of a principal sum or interest of the contract or contracts secured by a trust deed becomes due or is declared due by reason of a breach or default in the performance of the contract or contrac…

A. Except as provided in subsections F, G and H of this section, within ninety days after the date of sale of trust property under a trust deed pursuant to section 33-807, an action may be maintained to recover a deficiency judgment against any person directly, indirectly or cont…

Every trust deed, substitution of trustee, notice of resignation of trustee, request for notice, assignment of beneficial interest under a trust deed, notice of sale, cancellation of notice of sale or deed of release entitled to recordation under the provisions of this chapter sh…

The trustee's sale of trust property under a trust deed shall be made, or any action to foreclose a trust deed as provided by law for the foreclosure of mortgages on real property shall be commenced, within the period prescribed by law for the commencement of an action on the con…

The transfer of any contract or contracts secured by a trust deed shall operate as a transfer of the security for such contract or contracts.

Except as otherwise provided in this section, a trust deed, substitution of trustee, notice of resignation of trustee, assignment of a beneficial interest under a trust deed, notice of sale, cancellation of notice of sale, trustee's deed, deed of release, and any instrument by wh…

If a trust deed is executed for a principal purpose other than or in addition to securing the performance of a contract or contracts, the parties thereto may agree that the provisions of this chapter shall not be applicable. If such an agreement is in writing and is contained in …

A. In carrying out his duties under the provisions of this chapter or any deed of trust, a trustee, shall when acting in good faith, have the absolute right to rely upon any written direction or information furnished to him by the beneficiary. B. An attorney for the beneficiary s…

A deed of trust shall not be considered a deed or contract under the provisions of title 42, chapter 10, article 2 or a contract for conveyance of real property under the provisions of title 33, chapter 6, article 3.