Utah Code 70A-9a-617. Rights of transferee of collateral
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(1) A secured party’s disposition of collateral after default:
Terms Used In Utah Code 70A-9a-617
- Lien: A claim against real or personal property in satisfaction of a debt.
(1)(a) transfers to a transferee for value all of the debtor’s rights in the collateral;
(1)(b) discharges the security interest under which the disposition is made; and
(1)(c) discharges any subordinate security interest or other subordinate lien.
(2) A transferee that acts in good faith takes free of the rights and interests described in Subsection (1) , even if the secured party fails to comply with this chapter or the requirements of any judicial proceeding.
(3) If a transferee does not take free of the rights and interests described in Subsection (1) , the transferee takes the collateral subject to:
(3)(a) the debtor’s rights in the collateral;
(3)(b) the security interest or agricultural lien under which the disposition is made; and
(3)(c) any other security interest or other lien.