Title 57 Real Estate Chapter 1 Conveyances Section 24 Sale of trust property by trustee -- Notice of default.
57-1-24.Sale of trust property by trustee -- Notice of default.
The power of sale conferred upon the trustee who is qualified under Subsection
57-1-21(1)(a)(i) or (iv) may not be exercised until:
(1) the trustee first files for record, in the office of the recorder of each county where the
trust property or some part or parcel of the trust property is situated, a notice of default,
identifying the trust deed by stating the name of the trustor named in the trust deed and giving the
book and page, or the recorder's entry number, where the trust deed is recorded and a legal
description of the trust property, and containing a statement that a breach of an obligation for
which the trust property was conveyed as security has occurred, and setting forth the nature of
that breach and of the trustee's election to sell or cause to be sold the property to satisfy the
obligation;
(2) not less than three months has elapsed from the time the trustee filed for record under
Subsection (1); and
(3) after the lapse of at least three months the trustee shall give notice of sale as provided
in Sections 57-1-25 and 57-1-26.
Amended by Chapter 236, 2001 General Session
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