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Current as of January 01, 2025 | Updated by Findlaw Staff
A title insurer or title agent purporting to act under the provisions of Section 57-1-40 who reconveys a trust deed or releases a mortgage is liable to the beneficiary or mortgagee for the damages suffered as a result of the reconveyance if:
(1) the obligation secured by the trust deed or mortgage:
(a) has not been fully paid; or
(b) has not been partially paid in an amount agreed to by the beneficiary, mortgagee, or servicer as sufficient to release the mortgage or reconvey the trust deed; and
(2)(a) the title insurer or title agent failed to comply with the provisions of Sections 57-1-40 and 57-1-41; or
(b) the title insurer or title agent acted with gross negligence or in bad faith in reconveying the trust deed.
Cite this article: FindLaw.com - Utah Code Title 57. Real Estate § 57-1-42. Liability of title insurer or title agent - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-57-real-estate/ut-code-sect-57-1-42/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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