Skip to main content
Find a Lawyer

Utah Code Title 7. Financial Institutions Act § 7-24-204. Remedy for default

Current as of January 01, 2025 | Updated by Findlaw Staff

Except in the event of fraud by a borrower, if a borrower defaults on a title loan:

(1) the title lender's sole remedy is to seek repossession and sale of the property securing the title loan;

(2) the title lender may not pursue the borrower personally for:

(a) repayment of the loan; or

(b) any deficiency after repossession and sale of the property securing the loan; and

(3) after repossession and sale of the property securing the title loan, the title lender shall return to the borrower any proceeds from the sale in excess of the amount owed on the title loan.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Utah Code Title 7. Financial Institutions Act § 7-24-204. Remedy for default - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-7-financial-institutions-act/ut-code-sect-7-24-204/

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.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard