Escrow & Title
In Utah, a sheriff's deed is used to convey property sold:
AUnder a deed of trust non-judicial foreclosure
BUnder a court-ordered judicial foreclosure sale✓ Correct
CIn a tax lien sale
DIn an estate sale
Explanation
A sheriff's deed is used in judicial foreclosure sales where the court orders the sale and the sheriff conducts it. In Utah, most foreclosures are non-judicial (trustee's sales), but judicial foreclosure is also available.
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- In Utah, a trustee's sale (non-judicial foreclosure) must be preceded by a notice of default and a minimum notice period to the borrower of:Escrow & Title
- In a Utah deed of trust foreclosure, the trustee's sale (non-judicial foreclosure) requires a minimum notice period of:Finance
- A trustee's deed in Utah is typically used to convey property sold at:Escrow & Title
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- In Utah, the notice of trustee's sale in a non-judicial foreclosure must be published and mailed at least how many days before the sale?Escrow & Title
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Key Terms to Know
Deed of Trust
A security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
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