Redemption and Deficiency Judgments in Utah
Whether you can buy back your home after a foreclosure sale in Utah, and whether the lender can sue for what's still owed.
Short answer: After a nonjudicial trustee's sale, the trustee's deed conveys the property to the buyer without a right of redemption. Utah Code § 57-1-28(3); Utah R. Civ. P. 69C(d)
| Redemption after the sale | After a nonjudicial trustee's sale, the trustee's deed conveys the property to the buyer without a right of redemption. After a court-ordered (judicial) foreclosure sale, the property may be redeemed within 180 days after the sale by the defendant or a junior lienholder. |
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| Deficiency judgments | Yes, with limits. After a trustee's sale, the lender may sue for the remaining balance, but only within three months after the sale. The court must find the property's fair market value on the sale date, and the judgment cannot exceed the amount by which the debt (with interest, costs and sale expenses, including trustee's and attorney's fees) exceeds that fair market value. The prevailing party may recover costs and reasonable attorney fees. Source: Utah Code § 57-1-32 |
More Utah foreclosure & homeowner law
- How Foreclosure Works in Utah
- HOA Liens and Foreclosure in Utah
- Getting Your Home Back After a Tax Sale in Utah
- All Utah foreclosure & homeowner law rules
FAQ
Is there a right of redemption after foreclosure in Utah?
After a nonjudicial trustee's sale, the trustee's deed conveys the property to the buyer without a right of redemption. After a court-ordered (judicial) foreclosure sale, the property may be redeemed within 180 days after the sale by the defendant or a junior lienholder.
Can the lender come after you for the rest of the loan after foreclosure in Utah?
Yes, with limits. After a trustee's sale, the lender may sue for the remaining balance, but only within three months after the sale. The court must find the property's fair market value on the sale date, and the judgment cannot exceed the amount by which the debt (with interest, costs and sale expenses, including trustee's and attorney's fees) exceeds that fair market value. The prevailing party may recover costs and reasonable attorney fees.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.