Utah Code 57-1-30. Sale of trust property by trustee — Corporate stock evidencing water rights given to secure trust deed
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Terms Used In Utah Code 57-1-30
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes both real and personal property. See Utah Code 68-3-12.5
- Trustee: A person or institution holding and administering property in trust.
Shares of corporate stock evidencing water rights used, intended to be used, or suitable for use on the trust property and which are hypothecated to secure an obligation secured by a trust deed may be sold with the trust property, or any part thereof, at the trustee‘s sale in the manner provided in this act.
Enacted by Chapter 181, 1961 General Session