Finance
In Utah, when a borrower defaults on a trust deed loan, the lender typically uses:
AJudicial foreclosure requiring a court action
BNon-judicial foreclosure (trustee's sale) process✓ Correct
CStrict foreclosure without notice to the borrower
DSummary judgment to immediately take title
Explanation
Because Utah uses trust deeds (not mortgages), lenders can foreclose using the non-judicial trustee's sale process. This is faster and less expensive than judicial foreclosure, which is used in mortgage states.
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