Concepts, Inc. v. First Security Realty Services, Inc.

Plaintiffs appeal from a summary judgment in a declaratory judgment action, declaring a trustee’s sale conducted under a power of sale provision in a trust deed void as a matter of law for failure to comply with section 57-1-25 of the Utah Conveyances Act. We reverse.

Plaintiffs were trustors under trust deeds executed and delivered to defendant for the development of real property into the Park West Condominiums in Park City, Utah. The amount of the loan exceeded $3,000,000. When plaintiffs failed to perform under the trust deed notes and loan agreements, defendant filed a notice of de fault.…