Utah Code 57-1-23.5. Civil liability for unauthorized person who exercises power of sale
Current as of: 2024 | Check for updates
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(1) As used in this section:
Terms Used In Utah Code 57-1-23.5
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Trustee: A person or institution holding and administering property in trust.
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
(1)(a) “Unauthorized person” means a person who does not qualify as a trustee under Subsection57-1-21(1)(a)(i) or(iv) .(1)(b) “Unauthorized sale” means the exercise of a power of sale by an unauthorized person.
(2)
(2)(a) An unauthorized person who conducts an unauthorized sale is liable to the trustor for the actual damages suffered by the trustor as a result of the unauthorized sale or $2,000, whichever is greater.
(2)(b) In an action under Subsection (2)(a) , the court shall award a prevailing plaintiff the plaintiff’s costs and attorney fees.