A recorded notice of assignment of a beneficial interest, executed by the assigning beneficiary, is prima facie evidence of an assignment of the trust deed as described in the notice.
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Terms Used In Utah Code 57-1-22.5
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Deed: The legal instrument used to transfer title in real property from one person to another.
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
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.
(2)
The notice of assignment of a beneficial interest shall:
(a)
state:
(i)
the names of the original parties to the trust deed;
(ii)
the date the trust deed was recorded;
(iii)
(A)
the book and page where the trust deed is recorded; or
(B)
the entry number where the trust deed is recorded;
(iv)
the legal description of the trust property; and
(v)
the name and address of the new beneficiary; and
(b)
be in substantially the following form: Notice of Assignment of Beneficial Interest The undersigned hereby gives notice that it assigned and transferred all of its rights, title, and interest under the trust deed described below, together with all of the indebtedness secured thereby, to (insert name and address of current beneficiary) The trust deed was executed by ______ as trustor, in which ______ was the named beneficiary, ______ was the named trustee, and it was filed for record ______ (month/date/year), (in Book __, Page ____, Records of ______ County Recorder)/(as entry No. ______, _______ County), Utah. This notice of assignment of beneficial interest affects the property located in ___________________ County, State of Utah, and is described more specifically as follows: (insert legal description) Dated ___________________ Signature __________________________ (Certificate of Acknowledgment)
