Assignment of Deed of Trust by Corporate Mortgage Holder - Utah 2025

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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.
The deed of trust ends with a space for the borrowers signature, which must be done in the presence of a notary and two witnesses, who also sign.
Like mortgages, when a deed of trust is transferred from one party to another, an assignment is usually recorded in the county records. Transfers of mortgages and deeds of trust are both called assignments. An assignment transfers the sellers interest under the mortgage or deed of trust to the new owner.
Foreclosure details: When your lender forecloses with a deed of trust, the process will usually take less time and money to complete. However, foreclosure with a mortgage can be a lengthy process since you must go through the courts. Therefore, it can eat up a lot of time and money.
An Assignment of Deed of Trust transfers the rights to a new owner to become the lender of record. This new lender gains the ability to: Foreclose on the property if the borrower defaults. Collect payments from the borrower. Exercise loss mitigation measures, such as loan modifications or forbearance agreements.