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Utah Judicial Foreclosure Available: Yes Non-judicial Foreclosure Available: No Utah recognizes judicial foreclosure. There may be
but one action for recovery of the debt or any foreclosure sale. Procedure The lender must file a lawsuit seeking
foreclosure. If the court finds there has been a default, it may order the
foreclosure sale to proceed. The court will also adjudge the amount due on
the defaulted loan. The sheriff will conduct the sale under court order in
the same manner as normal execution sales. The sheriff will publish notices
and conduct a public sale. Any surplus from the sale will go to the person
who is owed the money, by court order, or stay on deposit with the court
until it decides how to distribute it. Special Procedures The borrower may be restrained by a court
injunction from injuring the real property during the foreclosure of the
mortgage or during a foreclosure execution sale. Deficiency Utah allows deficiency judgments. If the
foreclosure sale proceeds are insufficient to pay off the loan balance to the
lender, then execution may be issued by the court after the sale to seize
property until the debt is repaid. Redemption Utah recognizes a right of redemption after the
sale in the same way as for regular judgments. However, a Utah court sitting
in equity may extend the time for redemption so there is no set length of
time. |
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