57-1-36 - Trust deeds -- Instruments entitled to be recorded -- Assignment of a beneficial interest.
57-1-36. Trust deeds -- Instruments entitled to be recorded -- Assignment of abeneficial interest.
Any trust deed, substitution of trustee, assignment of a beneficial interest under a trustdeed, notice of default, trustee's deed, reconveyance of the trust property, and any instrument bywhich any trust deed is subordinated or waived as to priority, if acknowledged as provided bylaw, is entitled to be recorded. The recording of an assignment of a beneficial interest in the trustdeed does not in itself impart notice of the assignment to the trustor, his heirs or personalrepresentatives, so as to invalidate any payment made by any of them to the person holding thenote, bond, or other instrument evidencing the obligation by the trust deed.
Amended by Chapter 155, 1988 General Session