{"data":{"id":"us-ut/utah-code-57-1-31.5","jurisdiction":"us-ut","citation":"Utah Code § 57-1-31.5","heading":"Reinstatement or payoff statement -- Timeliness of request -- Trustee's duty to provide statement -- Statement to include accounting of costs and fees.","body":"(1) As used in this section:\n(a) \"Approved delivery method\" means delivery by:\n(i) certified or registered United States mail with return receipt requested; or\n(ii) a nationally recognized letter or package delivery or courier service operating in the state that provides a service for:\n(A) tracking the delivery of an item; or\n(B) documenting:\n(I) that the item was received by the intended recipient; or\n(II) a refusal to accept delivery of the item.\n(b) \"Compensation\" means anything of economic value that is paid, loaned, granted, given, donated, or transferred to a trustee for or in consideration of:\n(i) services;\n(ii) personal or real property; or\n(iii) other thing of value.\n(c) \"Interested party\" means a person with a right under Subsection 57-1-31(1) to reinstate an obligation secured by a trust deed.\n(d) \"Payoff statement\" means a statement under Subsection (2) that an interested party requests in order to obtain the amount required to pay off a loan secured by a trust deed.\n(e) \"Reinstatement statement\" means a statement under Subsection (2) that an interested party requests in order to obtain the amount required under Subsection 57-1-31(1) to reinstate an obligation secured by a trust deed.\n(2)\n(a)\n(i) An interested party may submit a written request to a trustee for a statement of the amount required to be paid:\n(A) to reinstate an obligation secured by a trust deed; or\n(B) to pay off a loan secured by a trust deed.\n(ii)\n(A) A request for a reinstatement statement is not timely unless the trustee receives the request at least 10 business days before expiration of the three-month period under Section 57-1-31 to reinstate an obligation.\n(B) A request for a payoff statement is not timely unless the trustee receives the request at least 10 business days before the trustee's sale.\n(iii) An interested party submitting a reinstatement statement or payoff statement to a trustee shall submit the statement to the trustee:\n(A) at the address specified in the trust deed for notices to the trustee; or\n(B) at an alternate address approved by the trustee for delivery of mail or notices.\n(iv) A trustee is considered to have received a request submitted under Subsection (2)(a)(i) if:\n(A) the interested party submitted the request through an approved delivery method; and\n(B) documentation provided under the approved delivery method indicates that:\n(I) the request was delivered to the trustee; or\n(II) delivery of the request was refused.\n(b)\n(i) A trustee who receives a written request under Subsection (2)(a) shall provide the statement to the interested party.\n(ii) A trustee is considered to have provided the statement requested under Subsection (2)(a) on the date that the trustee deposits the statement with an approved delivery method:\n(A) with all delivery costs prepaid; and\n(B) addressed to the interested party at the address provided in the request.\n(c)\n(i) If the trustee provides a requested reinstatement statement later than five business days after the request is received, the time to reinstate under Section 57-1-31 is tolled from the date of the request to the date that the trustee provides the statement.\n(ii) If, after scheduling a trustee's sale, the trustee fails to provide a requested payoff statement within five business days after the request is received, the trustee shall:\n(A) cancel the trustee's sale; or\n(B) postpone the trustee's sale to a date at least 10 business days after the trustee provides the statement.\n(3) A trustee shall include with each statement required under Subsection (2)(a):\n(a) a detailed listing of any of the following that the trustor would be required to pay to reinstate or payoff the loan:\n(i) attorney fees;\n(ii) trustee fees; or\n(iii) any costs including:\n(A) title fees;\n(B) publication fees; or\n(C) posting fees; and\n(b) subject to Subsection (4), a disclosure of:\n(i) any relationship that the trustee has with a third party that provides services related to the foreclosure of the loan; and\n(ii) whether the relationship described in Subsection (3)(b)(i) is created by:\n(A) an ownership interest in the third party; or\n(B) contract or other agreement.\n(4) Subsection (3)(b) does not require a trustee to provide a trustor:\n(a) a copy of any contract or agreement described in Subsection (3)(b);\n(b) specific detail as to the nature of the ownership interest described in Subsection (3)(b); or\n(c) the amount of compensation the trustee receives related to the foreclosure of the loan under a relationship described in Subsection (3)(b).","path":["Title 57 Real Estate","Chapter 57-1 Conveyances"],"source_url":"https://le.utah.gov/xcode/Title57/Chapter1/57-1-S31.5.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"ae25f0d720844edcf4f694d0e30b34caca62b34dada43dac57c3ce03b2cc5268","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-57-1-31","next":"us-ut/utah-code-57-1-32"},"notice":"GroundRules: Original legal text. Not legal advice."}