The courts have inherent power to restrain the sale of mortgaged premises in foreclosure proceedings, but are reluctant to exercise such power except where it is shown that particular circumstances, extrinsic to the instrument, would render its enforcement in this manner inequitable and work irreparable injury, and that complainant has no adequate remedy at law. Furthermore, a party must show a probable right of recovery in order to obtain a temporary injunction of a foreclosure action.
Utah Petition or Complaint to Enjoin Nonjudicial Foreclosure Sale and for Declaratory Relief
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US-01680BG
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How to fill out Petition Or Complaint To Enjoin Nonjudicial Foreclosure Sale And For Declaratory Relief?
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FAQ
In Utah, the lender can get a deficiency judgment after a nonjudicial foreclosure by filing a lawsuit within three months of the sale. (Utah Code Ann. § 57-1-32).
Nonjudicial foreclosures occur if your mortgage has a power of sale clause, and allow your mortgage company to auction off your home after a warning and waiting period. Nonjudicial foreclosures can be a faster process than judicial foreclosures as they do not involve having to go to court.
A "power of sale provision" is a clause in the loan contract. In this clause, the borrower pre-authorizes the property's sale through a nonjudicial foreclosure process after a default.
In order to qualify for a non-judicial foreclosure, the lienholder must have a deed of trust with a "power of sale" clause, giving them the authority to sell the property. These foreclosures are governed by Section 51.002 of the Texas Property Code as well as the contractual documents.
Time to Respond The summons will say how many days the defendant has to respond. In most cases, if the defendant is served in Utah, they must file their answer within 21 calendar days after the date of service. If the defendant is served outside Utah, they must file an answer within 30 calendar days after service.
A defeasance clause is a provision in some mortgage contracts indicating that the borrower will receive the title to the property once all of the mortgage payments have been made.