57-1-25 - Notice of trustee's sale -- Description of property -- Time and place of sale.
57-1-25. Notice of trustee's sale -- Description of property -- Time and place of sale.
(1) The trustee shall give written notice of the time and place of sale particularlydescribing the property to be sold:
(a) by publication of the notice:
(i) (A) at least three times;
(B) once a week for three consecutive weeks;
(C) the last publication to be at least 10 days but not more than 30 days before the datethe sale is scheduled; and
(D) in a newspaper having a general circulation in each county in which the property tobe sold, or some part of the property to be sold, is situated; and
(ii) in accordance with Section 45-1-101 for 30 days before the date the sale is scheduled;
(b) by posting the notice:
(i) at least 20 days before the date the sale is scheduled; and
(ii) (A) in some conspicuous place on the property to be sold; and
(B) at the office of the county recorder of each county in which the trust property, orsome part of it, is located; and
(c) if the stated purpose of the obligation for which the trust deed was given as security isto finance residential rental property:
(i) by posting the notice, including the statement required under Subsection (3)(b):
(A) on the primary door of each dwelling unit on the property to be sold, if the propertyto be sold has fewer than nine dwelling units; or
(B) in at least two conspicuous places on the property to be sold, in addition to theposting required under Subsection (1)(b)(ii)(A), if the property to be sold has nine or moredwelling units; or
(ii) by mailing the notice, including the statement required under Subsection (3)(b), tothe occupant of each dwelling unit on the property to be sold.
(2) (a) The sale shall be held at the time and place designated in the notice of sale.
(b) The time of sale shall be between the hours of 8 a.m. and 5 p.m.
(c) The place of sale shall be clearly identified in the notice of sale under Subsection (1)and shall be at a courthouse serving the county in which the property to be sold, or some part ofthe property to be sold, is located.
(3) (a) The notice of sale shall be in substantially the following form:
The following described property will be sold at public auction to the highest bidder,payable in lawful money of the United States at the time of sale, at (insert location of sale)________________on __________(monthdayyear), at __.m. of said day, for the purpose offoreclosing a trust deed originally executed by ____ (and ____, his wife,) as trustors, in favor of____, covering real property located at ____, and more particularly described as:
The current beneficiary of the trust deed is ______________________ and the recordowners of the property as of the recording of the notice of default are _________________ and____________________.
Dated __________(monthdayyear).
(b) If the stated purpose of the obligation for which the trust deed was given as security is
to finance residential rental property, the notice required under Subsection (1)(c) shall include astatement, in at least 14-point font, substantially as follows:
"Notice to Tenant
As stated in the accompanying Notice of Trustee's Sale, this property is scheduled to besold at public auction to the highest bidder unless the default in the obligation secured by thisproperty is cured. If the property is sold, you may be allowed under federal law to continue tooccupy your rental unit until your rental agreement expires, or until 90 days after the date you areserved with a notice to vacate, whichever is later. If your rental or lease agreement expires afterthe 90-day period, you may need to provide a copy of your rental or lease agreement to the newowner to prove your right to remain on the property longer than 90 days after the sale of theproperty.
You must continue to pay your rent and comply with other requirements of your rental orlease agreement or you will be subject to eviction for violating your rental or lease agreement.
The new owner or the new owner's representative will probably contact you after theproperty is sold with directions about where to pay rent.
The new owner of the property may or may not want to offer to enter into a new rental orlease agreement with you at the expiration of the period described above."
(4) The failure to provide notice as required under Subsections (1)(c) and (3)(b) or adefect in that notice may not be the basis for challenging or invaliding a trustee's sale.
Amended by Chapter 66, 2010 General Session