Utah Foreclosure
Utah Foreclosure allows both judicial and non judicial procedures. Both right of redemption and deficiency judgment is allowed. Time line varies and security instruments are deed of trust and mortgage. In a judicial foreclosure, filing of a complaint by lender is a must to obtain a decree before foreclosure can begin. Court, if satisfied, orders sale of the property in the normal execution sales manner but not before giving the borrower a fair chance to cure default plus cost. Non judicial foreclosure is guided by power of sale or power of sale guidelines (in the absence of clarity in power of sale clause). Notice is advertised for three weeks with last appearing between ten to thirty days before sale. Notice to be posted on the property and recorder’s office 20 days ahead of sale. Auction timing is from 8 AM to 5 PM. Redemption period is extensible beyond that stipulated by law. Lender can keep the property in its seizure till deficiency judgment.
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