57-1-22. Successor trustees -- Appointment by beneficiary -- Effect --
Substitution of trustee -- Recording -- Form.
(1) (a) The beneficiary may appoint a successor trustee at any time by filing for
record in the office of the county recorder of each county in which the trust property or
some part of the trust property is situated, a substitution of trustee.
(b) The new trustee shall succeed to all the power, duties, authority, and title of
the trustee named in the deed of trust and of any successor trustee.
(c) The beneficiary may, by express provision in the substitution of trustee, ratify
and confirm action taken on the beneficiary's behalf by the new trustee prior to the
recording of the substitution of trustee.
(2) A substitution of trustee shall:
(a) identify the trust deed by stating:
(i) the names of the original parties to the trust deed;
(ii) the date of recordation; and
(iii) (A) the book and page where the trust deed is recorded; or
(B) the entry number;
(b) include the legal description of the trust property;
(c) state the name and address of the new trustee; and
(d) be executed and acknowledged by all of the beneficiaries under the trust
deed or their successors in interest.
(3) (a) If not previously recorded at the time of recording a notice of default, the
successor trustee shall file for record, in the office of the county recorder of each county
in which the trust property or some part of it is situated, the substitution of trustee.
(b) A copy of the substitution of trustee shall be sent in the manner provided in
Subsection 57-1-26(2) to any:
(i) person who requests a copy of any notice of default or notice of sale under
Subsection 57-1-26(1)(a); and
(ii) person who is a party to the trust deed to whom a copy of a notice of default
would be required to be mailed by Subsection 57-1-26(3).
(4) A substitution of trustee shall be in substantially the following form:
Substitution of Trustee
(insert name and address of new trustee)
is hereby appointed successor trustee under the trust deed executed by
____ as trustor, in which ____ is named beneficiary and ____ as trustee, and filed for
record __________(month\day\year), and recorded in Book ____, Page ____, Records
of ____ County, (or filed for record __________(month\day\year), with recorder's entry
No. ____, ____ County), Utah.
(Insert legal description)
(Certificate of Acknowledgment)
(5) (a) A trustee of a trust deed may, in accordance with this Subsection (5),
resign as trustee by filing for record in the office of the recorder of each county in which
the trust property is located, a resignation of trustee.
(b) A trustee's resignation under this Subsection (5) takes effect upon the
recording of a resignation of trustee.