Utah Code 78B-6-1310. Mortgage not considered a conveyance — Foreclosure necessary
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Terms Used In Utah Code 78B-6-1310
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Property: includes both real and personal property. See Utah Code 68-3-12.5
A mortgage of real property may not be considered a conveyance which would enable the owner of the mortgage to recover possession of the real property without a foreclosure and sale.