Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
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
(a)
Prior to selling a mold, the molder shall send written notice by registered mail to the last-known address of the customer.
(b)
The notice required by Subsection (1)(a) shall include:
(i)
the molder’s intention to sell the mold 30 days from the day the customer received the notice;
(ii)
the description of the mold to be sold;
(iii)
the time and place of the sale; and
(iv)
an itemized statement for the amount due the molder from the customer.
(c)
A molder shall publish notice of the molder’s intention to sell a mold in a newspaper of general circulation covering the customer’s last-known address and as required in Section 45-1-101 if:
(i)
the receipt of the mailing of the notice described in Subsection (1)(a) is not returned; or
(ii)
the postal service returns the notice described in Subsection (1)(a) as being nondeliverable.
(d)
The notice provided for in Subsection (1)(c) shall include a description of the mold.
(2)
A molder may sell a mold 30 days from the later of the day:
(a)
the customer received the notice in accordance with Subsection (1)(a); or
(b)
the date the molder published the notice under Subsection (1)(c).
(3)
If from the sale of a mold under this section the molder receives an amount in excess of the amount of the lien, the excess shall be paid as follows:
(a)
to any prior lienholder known to the molder at the time of the sale; and
(b)
after paying any lienholder under Subsection (3)(a), the remainder:
(i)
if the customer’s address is known at the time of sale, to the customer; or
