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Senate adopts trust-deed law amendments, tightening trustee and notice requirements
Summary
Second-substitute S.B. 53 changes trustee-sale procedures by requiring trustees be active Utah-resident attorneys, requiring title insurers to be doing business in Utah, allowing trustee sales on the property for parcels one acre or smaller and updating notice and time-of-sale provisions.
SALT LAKE CITY — The Senate on Feb. 13 adopted second-substitute amendments to the Trust Deed Law (second substitute S.B. 53), a package of technical and procedural reforms the sponsor said were proposed by attorneys who handle trustee sales across Utah.
Sponsor Senator Michael Wadipes said the bill's core changes require that the trustee conducting a trustee sale be an active member of the Utah State Bar residing in Utah and that title-insurance companies involved be doing business in the state. "The purpose…
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