{"data":{"id":"us-ut/utah-code-75-3-809","jurisdiction":"us-ut","citation":"Utah Code § 75-3-809","heading":"Secured claims.","body":"Payment of a secured claim is upon the basis of the amount allowed if the creditor surrenders his security; but otherwise payment is upon the basis of one of the following:\n(1) If the creditor exhausts his security before receiving payment (unless precluded by other law) upon the amount of the claim allowed less the fair value of the security; or\n(2) If the creditor does not have the right to exhaust his security or has not done so, upon the amount of the claim allowed less the value of the security determined by converting it into money according to the terms of the agreement pursuant to which the security was delivered to the creditor, or by the creditor and personal representative by agreement, arbitration, compromise, or litigation.","path":["Title 75 Utah Uniform Probate Code","Chapter 75-3 Probate of Wills and Administration","Part 75-3-8 Creditors' Claims"],"source_url":"https://le.utah.gov/xcode/Title75/Chapter3/75-3-S809.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:34Z","sha256":"f817987ade8215eff177b68c156ac3ef43ed04cf7479bd499acf5c03283d2d7f","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-75-3-808","next":"us-ut/utah-code-75-3-810"},"notice":"GroundRules: Original legal text. Not legal advice."}