Utah Code § 57-1-42 Liability of Title Insurer Or Title Agent

• Library: Utah Statutes
• Edition: 2023
• Currency: Current through the 2023 Second Special Session
• Year: 2023
• Citation: Utah Code § 57-1-42

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