57-8-45. Enforcement of a lien.
(1) Except as provided in Section, to enforce a lien established under Section, an association of unit owners may: 57-8-13.1 57-8-44 cause a unit to be sold through nonjudicial foreclosure as though the lien were a deed of trust, in the manner provided by: Sections,,, and; and 57-1-24 57-1-25 57-1-26 57-1-27 this chapter; or foreclose the lien through a judicial foreclosure in the manner provided by: law for the foreclosure of a mortgage; and this chapter. For purposes of a nonjudicial or judicial foreclosure as provided in Subsection: (1)(a) the association of unit owners is considered to be the beneficiary under a trust deed; and the unit owner is considered to be the trustor under a trust deed.
(2) A unit owner's acceptance of the owner's interest in a unit constitutes a simultaneous conveyance of the unit in trust, with power of sale, to the trustee designated as provided in this section for the purpose of securing payment of all amounts due under the declaration and this chapter.
(3) A power of sale and other powers of a trustee under this part and under Sectionsthroughmay not be exercised unless the association of unit owners appoints a qualified trustee. 57-1-19 57-1-34 An association of unit owners' execution of a substitution of trustee form authorized in Sectionis sufficient for appointment of a trustee under Subsection. 57-1-22 (3)(a) A person may not be a trustee under this part unless the person qualifies as a trustee under Subsectionor. 57-1-21(1)(a)(i) (iv) A trustee under this part is subject to all duties imposed on a trustee under Sectionsthrough. 57-1-19 57-1-34
(4) This chapter does not prohibit an association of unit owners from bringing an action against a unit owner to recover an amount for which a lien is created under Sectionor from taking a deed in lieu of foreclosure, if the action is brought or deed taken before the sale or foreclosure of the unit owner's unit under this chapter. 57-8-44