Title 45 — LIENS, MORTGAGES AND PLEDGES

45-1502. Definitions — Trustee’s charge. As used in this act: (1) "Beneficiary" means the person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or his successor in interest, and who shall not be the trustee. (2) "Grantor" mean…

45-1503. Transfers in trust to secure obligation — Foreclosure. (1) Transfers in trust of any estate in real property as defined in section 45-1502(5), Idaho Code, may hereafter be made to secure the performance of an obligation of the grantor or any other person named in the dee…

45-1504. Trustee of trust deed — Who may serve — Successors. (1) The trustee of a trust deed under this act shall be: (a) Any member of the Idaho state bar; (b) Any bank or savings and loan association authorized to do business under the laws of Idaho or the United States; (c) An…

45-1505. Foreclosure of trust deed, when. The trustee may foreclose a trust deed by advertisement and sale under this act if: (1) The trust deed, any assignments of the trust deed by the trustee or the beneficiary and any appointment of a successor trustee are recorded in mortgag…

45-1506. Manner of foreclosure — Notice — Sale. (1) A trust deed may be foreclosed in the manner provided in this section. (2) Subsequent to recording notice of default as hereinbefore provided, and at least one hundred twenty (120) days before the day fixed by the trustee for th…

45-1506A. Rescheduled sale — Original sale barred by stay — Notice of rescheduled sale. (1) In the event a sale cannot be held at the time scheduled by reason of automatic stay provisions of the U.S. bankruptcy code (11 U.S.C. 362), or a stay order issued by any court of competen…

45-1506B. Postponement of sale — Intervention of stay. (1) If a stay as set out in subsection (1) of section 45-1506A, Idaho Code, which would otherwise have stopped a foreclosure sale is terminated or lifted prior to the date of sale, then any person having a right to reinstate …

45-1506C. supplemental notice — opportunity to request LOAN modification. (1) In the case of a loan made by a state or federally regulated beneficiary, which loan is secured by a deed of trust encumbering a borrower’s primary residential property for any noncommercial loan, the n…

45-1507. Proceeds of sale — Disposition. The trustee shall apply the proceeds of the trustee’s sale as follows: (1) To the expenses of the sale, including a reasonable charge by the trustee and a reasonable attorney’s fee. (2) To the obligation secured by the trust deed. (3) To a…

45-1508. Finality of sale. A sale made by a trustee under this act shall foreclose and terminate all interest in the property covered by the trust deed of all persons to whom notice is given under section 45-1506, Idaho Code, and of any other person claiming by, through or under …

45-1509. Trustee’s deed — Form and contents. (1) The trustee’s deed to the purchaser at the trustee’s sale under this act shall conform to the requirements of subsection (2) of this section. (2) The trustee’s deed shall contain, in addition to a description of the property convey…

45-1510. Trustee’s deed — Recording — Effect. (1) When the trustee’s deed is recorded in the deed records of the county where the property described in the deed is located, the recitals contained in the deed and in the affidavits required under section 45-1506(7), Idaho Code, sha…

45-1511. Request for copy of notice of default or notice of sale — Marginal recordation thereof. Any person desiring a copy of any notice of default or any notice of sale under a deed of trust, as hereinbefore provided, at any time subsequent to the recordation of such deed of tr…

45-1512. Money judgment — Action seeking balance due on obligation. At any time within 3 months after any sale under a deed of trust, as hereinbefore provided, a money judgment may be sought for the balance due upon the obligation for which such deed of trust was given as securit…

45-1513. Transfers and trusts are conveyances. A deed of trust or transfer of any interest in real property in trust to secure the performance of any obligation shall be a conveyance of real property.

45-1514. Reconveyance upon satisfaction of obligation. Upon performance of the obligation secured by the deed of trust, the trustee upon written request of the beneficiary shall reconvey the estate of real property described in the deed of trust to the grantor; providing that in …

45-1515. Time limits for foreclosure. The foreclosure of a trust deed by advertisement and sale shall be made and the foreclosure of a trust deed by judicial procedure shall be commenced within the time limited by the same period and according to the same provisions including ext…