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Utah Code 57-1-28 Sale of trust property by trustee -- Payment of bid -- Trustee's deed delivered to purchaser -- Recitals -- Effect. (1) (a) The purchaser at the sale shall pay the price bid as directed
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People Also Ask about
What is the code 57 1 25 in Utah?
Notice of trustee's sale -- Description of property -- Time and place of sale. by mailing the notice, including the statement required under Subsection (3)(b), to the occupant of each dwelling unit on the property to be sold. The sale shall be held at the time and place designated in the notice of sale.
How much can a trustee charge in Utah?
Some Utah trustees will charge approximately 2-3% of the value of the estate or trust, with a minimum of $3,000 to $5,000. Other institutional trustees or private professional fiduciaries may charge for their services on an hourly basis at a rate of $100-200 per hour.
Is Utah a trustee state?
Utah is known as a Trust Deed and Promissory Note state. There are references to a foreclosure being allowed under the law, typically in a Contract for Deed transaction but this is certainly not the standard.
Who are the beneficiary rights in Utah?
Descendants can be children, grandchildren, or great-grandchildren. Your spouse will inherit all of your intestate property if you die without descendants, or if all surviving descendants are from you and your surviving spouse. If you have a spouse and no descendants, your spouse will inherit everything.
What is a substitution of trustee and full reconveyance in Utah?
In a nutshell, the Substitution of Trustee and Deed of Reconveyance is a legal document that evidences security interest is being release by a lender. In most cases, the document shows that a loan has been paid off. Property owners may even receive this document if they have refinanced a loan.
How do I transfer my property to a trust in Utah?
To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.
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What is 57-1-28 sale of trust?
The 57-1-28 sale of trust is a legal document that records the sale of assets held in trust.
Who is required to file 57-1-28 sale of trust?
Any trustee or beneficiary of a trust who has sold assets held in trust is required to file the 57-1-28 sale of trust.
How to fill out 57-1-28 sale of trust?
To fill out the 57-1-28 sale of trust, you will need to provide details of the assets sold, sale price, date of sale, and any relevant tax information.
What is the purpose of 57-1-28 sale of trust?
The purpose of the 57-1-28 sale of trust is to report the sale of trust assets and ensure compliance with tax laws.
What information must be reported on 57-1-28 sale of trust?
The 57-1-28 sale of trust must include details of the assets sold, sale price, date of sale, and any relevant tax information.
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