Chapter 18 - Sale And Redemption Of Realty Sold Under Mortgage Or Execution
CHAPTER 18 - SALE AND REDEMPTION OF REALTY SOLD UNDER MORTGAGEOR EXECUTION
1-18-101. Sale to be at public vendue; hours of sale; notice required;mortgagee, judgment creditor or lienor must be present or waive; penalty.
(a) No lands or tenements shall be sold by virtue of anyexecution or decree of foreclosure unless:
(i) The sale is by public vendue between the hours of 10:00a.m. and 5:00 p.m. of the same day;
(ii) The time and place of holding the sale was previouslyadvertised for four (4) consecutive weeks in a legal newspaper of generalcirculation in the county where the lands and tenements are situate; and
(iii) The foreclosing mortgagee, judgment creditor, otherforeclosing lienor or an authorized agent of the foreclosing party is present atthe sale or has previously waived to the sheriff conducting the sale the rightto appear and bid at the sale. The sheriff conducting the sale shall not beconsidered to be the authorized agent of the foreclosing party unless theforeclosing party has given the sheriff a specified opening bid to be presentedby the sheriff on behalf of the foreclosing party and the sheriff actuallypresents the opening bid. Any foreclosure sale conducted without complying withthe terms of this section is void, in which case the mortgage, power of sale,judgment or other lien which is the subject of the voided sale is notextinguished or exhausted, but may be properly foreclosed in a subsequentforeclosure sale in compliance with applicable law.
(b) The notice shall state the names of the plaintiff anddefendant in the action, and the time and place of sale. In all notices thelands or tenements to be sold shall be described with reasonable certainty by appropriate description. The notice shall state "The property being foreclosedupon may be subject to other liens and encumbrances that will not beextinguished at the sale and any prospective purchaser should research thestatus of title before submitting a bid." If any officer sells any landsor tenements by virtue of any execution or decree, otherwise than as provided,the officer so offending shall forfeit and pay five hundred dollars ($500.00)for every offense, to be recovered with costs in any court of record in thisstate by the person whose lands were advertised and sold.
1-18-102. Certificate of purchase in lieu of deed; contents;recordation of duplicate; admissibility.
Whenreal property is sold by virtue of an execution, order of sale, decree offoreclosure or foreclosure by advertisement and sale, the sheriff or otherofficer, instead of executing a deed to the premises sold, shall give to thepurchaser of the lands a certificate in writing describing the propertypurchased and the sum paid therefor, or if purchased by the plaintiff inexecution or by the mortgagee, the amount of his bid. The certificate shallstate that the purchaser is entitled to a deed for the property at theexpiration of the period of redemption, unless the property is redeemed priorto that date as provided by law. The sheriff or other officer shall record inthe office of the recorder of the county a duplicate of the certificate, signedand acknowledged by him, and the certificate or a certified copy thereof isadmissible as evidence of the facts therein contained.
1-18-103. Right of redemption; redemption of agricultural real estate;"agricultural real estate" defined.
(a) Except as provided with respect to agricultural realestate, it is lawful for any person, his heirs, executors, administrators,assigns or guarantors whose real property has been sold by virtue of anexecution, decree of foreclosure, or foreclosure by advertisement and salewithin three (3) months from the date of sale, to redeem the real estate bypaying to the purchaser, his heirs, executors, administrators or assigns, or tothe sheriff or other officer who sold the property, for the benefit of thepurchaser, the amount of the purchase price or the amount given or bid ifpurchased by the execution creditor or by the mortgagee under a mortgage,together with interest at the rate of ten percent (10%) per annum from the dateof sale plus the amount of any assessments or taxes and the amount due on anyprior lien which the purchaser paid after the purchase, with interest. Onpayment of this amount the sale and certificate granted are void.
(b) In the case of any mortgage upon one (1) or more parcels ofreal estate any or all of which were agricultural real estate on the date ofexecution of the mortgage as stated in the mortgage, the period within whichthe owner, his heirs, executors, administrators, assigns or guarantors mayredeem the premises sold is twelve (12) months from the date of the sale.
(c) The term "agricultural real estate" means anyparcel of land in excess of eighty (80) acres lying outside the exteriorboundaries of any incorporated city, town or recorded subdivision. If themortgage recites that the real estate involved is agricultural real estate, itis presumed the parties to the mortgage, their heirs, executors,administrators, assigns, guarantors or successors in interest have agreed toand are bound by all the provisions of law relative to the twelve (12) monthright of redemption provided in subsection (b) of this section.
1-18-104. Redemption by judgment creditors and others; manner prescribed;subsequent redemptions; possession, rents and profits; common carriersexcepted.
(a) If no redemption is made within the redemption periodprovided in W.S. 1-18-103, any judgment creditor of the person whose realestate has been sold, or any grantee or mortgagee of the real estate or personholding a lien on the real estate sold is entitled to redeem the same on orbefore the thirtieth day after the expiration of the applicable redemptionperiod provided in W.S. 1-18-103, by complying with subsections (b) and (c) ofthis section.
(b) The redemptioner shall pay to the purchaser or to theofficer conducting the sale, the amount bid with interest at ten percent (10%)per annum from the date of sale, and the amount of any assessments or taxes andthe amount due on any prior lien which the purchaser may have paid after thepurchase, with interest. If the purchaser also has a lien prior to that of theredemptioner, the redemptioner shall also pay the amount of the lien withinterest.
(c) The redemptioner must produce for the purchaser from whomredemption is sought or for the officer who conducted the sale:
(i) A copy of the judgment under which the right of redemptionis claimed, duly certified by the clerk of the court in which the judgment was entered,or if redemption is sought under a mortgage or other lien, a copy of themortgage or other lien certified by the clerk of the county; or
(ii) A copy of any assignment necessary to establish the claim;and
(iii) An affidavit by himself or his agent showing the amountactually unpaid and due on the lien.
(d) If the property is redeemed, another redemptioner maywithin thirty (30) days from the last redemption again redeem from the lastredemptioner by paying the amount of the last redemption together with interestat ten percent (10%) per annum from the date thereof, and the amount of anyassessment or taxes which the last redemptioner may have paid and the amount ofany lien held by the last redemptioner prior to his own, with interest. The propertymay again, and as often as any redemptioner desires, be redeemed from anyprevious redemption within thirty (30) days from the last redemption. If noredemption is made within thirty (30) days after the applicable redemptionperiod provided in W.S. 1-18-103, the purchaser or his assignee is entitled toa sheriff's deed to the property, or if so redeemed, whenever thirty (30) dayshas elapsed and no other redemption has been made, the last redemptioner or hisassignee is entitled to a sheriff's deed.
(e) The execution debtor in case of a sale on execution, andthe mortgagor or owner in case of a mortgage foreclosure, is entitled topossession of the lands sold and to the rents and profits for a period of three(3) months after the sale. At the expiration of three (3) months from sale thepurchaser is entitled to possession and to the rents and profits of the landsuntil redemption is made from him, and each redemptioner until anotherredemption is made is likewise entitled to possession and to the rents andprofits.
(f) The parties to a mortgage may provide that the mortgagee isentitled to a receiver or to the rents and profits upon default, or upon thedate of sale or at any time agreed upon. A court may appoint a receiver oraward the rents and profits to the person entitled thereto for the preventionof waste, or the preservation of the property, or for any equitable cause.
(g) This section does not apply when real and personal propertyof a common carrier is sold in its entirety at a judicial sale pursuant to anorder of court. In such case, property may be sold without right of redemptionunless otherwise directed by the order of sale.
1-18-105. Redemption of whole or portion permitted.
Anyperson entitled may redeem the whole or any part or portion of lands previouslysold upon execution or by foreclosure, but such redemption must be made in thedistinct quantities or parcels in which they were sold.
1-18-106. Certificate of redemption; recordation; fee.
Inall cases of redemption of lands from sale under any judicial process, or byvirtue of any mortgage foreclosure, the purchaser or other person from whom theredemption is made shall certify the redemption in writing and record thecertificate in the recorder's office of the proper county as other writingsaffecting the titles to real estate are filed and recorded. The recording feeshall be paid by the party redeeming.
1-18-107. Commission of officers.
Nocommission upon the amount of the redemption money paid shall be allowed to theofficer receiving the money, but the usual commission shall be allowed theofficer selling the premises, on the excess made over and above the amount ofthe redemption money and interest.
1-18-108. Assignment of certificate of purchase.
Everycertificate given by any officer to any purchaser under W.S. 1-18-101 through1-18-110, is assignable by endorsement under the hand of the purchaser, hisheirs, executor, administrator or assignee. Every person to whom thecertificate is assigned is entitled to the same benefits therefrom in everyrespect that the person named would have been if the certificate had not beenassigned, including a deed if the property is not redeemed as provided by law.
1-18-109. Contents of deed; form.
Thedeed to be executed by the officer to the purchaser under W.S. 1-18-101 through1-18-110 shall contain a statement of the judgment upon which the landsdescribed were sold, and the date of the execution in the case of an executionsale; a statement of the mortgage, with its date and place of record, theparties thereto, and a statement of the decree in case of foreclosure by suit;or a statement of the time and place of sale in the case of a foreclosure byadvertisement and sale. The deed shall also contain a recital showing theissuance of a certificate of purchase and any assignment of the certificatethat has been made. The deed shall also contain substantially the followingwords:
Now, therefore, know all men by this deed,that I, ...., of the county of .... in consideration of the premises, havegranted and sold and do hereby convey to ...., his heirs and assigns, thefollowing described tract of land, ...., to have and to hold the describedpremises with all appurtenances to the said ...., his heirs and assigns forever.
Witness my hand and seal this .... day of...., A.D. ....
1-18-110. Effect of deed.
Anydeed so executed is prima facie evidence that the provisions of law in relationto sale of real property upon execution, or upon foreclosure, were complied with.The deed conveys to the grantee all the title, estate and interest of defendantin the execution, or the mortgagor or owner, in the lands thereby conveyed, butthe deed shall not be construed to contain any covenant upon the part of theofficer executing the same.
1-18-111. Sale on foreclosure of mortgage; generally.
Whena mortgage is foreclosed a sale of the premises shall be ordered. The decreedirecting the sale is sufficient warrant for the sheriff or other officer toproceed to advertise and conduct the sale. An order of sale issued by the clerkof court or an appraisement of the real property to be sold is not necessary.When the premises to be sold are in one (1) or more tracts, the court maydirect the officer who makes the sale to subdivide and sell the same inparcels, or to sell any one (1) of the tracts as a whole.
1-18-112. Sale on foreclosure of mortgage; property in more thansingle county.
Whenthe mortgaged property is situated in more than one (1) county, the court mayorder the sheriff or other officer of each to make the sale of the property inhis county, or may direct one (1) officer to sell the whole. The court shalldirect whether publication of the sale shall be made in all the counties or inone (1) county only.
1-18-113. Payment of proceeds.
After any sale of real estate as providedin this chapter, proceeds from the sale shall be paid over by the officer orother person making the sale in accordance with W.S. 34-4-113.
1-18-114. Omitted parties; definitions.
(a) For purposes of this section:
(i) "Omitted party" means any person who:
(A) Subsequent to the recording of a mortgage, deed of trust orother lien instrument pursuant to which a foreclosure sale has been conducted,has either acquired a record interest in the property subject to a mortgageforeclosure, deed of trust or execution sale, or has obtained a validpossessory interest and is in actual possession of the property; and
(B) Is not included as a party defendant in a judicialforeclosure action or, if included, is entitled to notice, but was not servedwith process, or was not mailed notice of the execution sale or is not notifiedpursuant to W.S. 34-4-104 of a mortgage foreclosure sale.
(ii) "Interested person" means any holder of acertificate of purchase or certificate of redemption issued pursuant to W.S.1-18-102 and 1-18-106 or any owner of the property by virtue of a sheriff's orpublic trustee's deed or person claiming through such owner.
(b) The interest of an omitted party in the property which isthe subject of a mortgage foreclosure, execution or sheriff's or trustee's salemay be terminated in a civil action commenced by any interested person if theomitted party is afforded rights of redemption upon terms as the district courtfor the district in which the property is located may deem just under thecircumstances, which terms shall not, however, be more favorable than theperson's statutory rights had the person been provided notice of the sale.
(c) For purposes of this section, the mortgage, judgment orother lien which is the subject of the sale shall not be extinguished by mergerwith the title to the property acquired upon issuance and delivery of thesheriff's deed until the interest of any omitted party has been terminated asprovided in subsection (b) of this section or by operation of law.