(1) As used in this section: (a) "Approved delivery method" means delivery by: (i) certified or registered United States mail with return receipt requested; or (ii) a nationally recognized letter or package delivery or courier service operating in the state that provides a service for: (A) tracking the delivery of an item; or (B) documenting: (I) that the item was received by the intended recipient; or (II) a refusal to accept delivery of the item. (b) "Compensation" means anything of economic value that is paid, loaned, granted, given, donated, or transferred to a trustee for or in consideration of: (i) services; (ii) personal or real property; or (iii) other thing of value. (c) "Interested party" means a person with a right under Subsection 57-1-31(1) to reinstate an obligation secured by a trust deed. (d) "Payoff statement" means a statement under Subsection (2) that an interested party requests in order to obtain the amount required to pay off a loan secured by a trust deed. (e) "Reinstatement statement" means a statement under Subsection (2) that an interested party requests in order to obtain the amount required under Subsection 57-1-31(1) to reinstate an obligation secured by a trust deed.

(a) "Approved delivery method" means delivery by: (i) certified or registered United States mail with return receipt requested; or (ii) a nationally recognized letter or package delivery or courier service operating in the state that provides a service for: (A) tracking the delivery of an item; or (B) documenting: (I) that the item was received by the intended recipient; or (II) a refusal to accept delivery of the item.

(i) certified or registered United States mail with return receipt requested; or

(ii) a nationally recognized letter or package delivery or courier service operating in the state that provides a service for: (A) tracking the delivery of an item; or (B) documenting: (I) that the item was received by the intended recipient; or (II) a refusal to accept delivery of the item.

(A) tracking the delivery of an item; or

(B) documenting: (I) that the item was received by the intended recipient; or (II) a refusal to accept delivery of the item.

(I) that the item was received by the intended recipient; or

(II) a refusal to accept delivery of the item.

(b) "Compensation" means anything of economic value that is paid, loaned, granted, given, donated, or transferred to a trustee for or in consideration of: (i) services; (ii) personal or real property; or (iii) other thing of value.

(i) services;

(ii) personal or real property; or

(iii) other thing of value.

(c) "Interested party" means a person with a right under Subsection 57-1-31(1) to reinstate an obligation secured by a trust deed.

(d) "Payoff statement" means a statement under Subsection (2) that an interested party requests in order to obtain the amount required to pay off a loan secured by a trust deed.

(e) "Reinstatement statement" means a statement under Subsection (2) that an interested party requests in order to obtain the amount required under Subsection 57-1-31(1) to reinstate an obligation secured by a trust deed.

(2) (a) (i) An interested party may submit a written request to a trustee for a statement of the amount required to be paid: (A) to reinstate an obligation secured by a trust deed; or (B) to pay off a loan secured by a trust deed. (ii) (A) A request for a reinstatement statement is not timely unless the trustee receives the request at least 10 business days before expiration of the three-month period under Section 57-1-31 to reinstate an obligation. (B) A request for a payoff statement is not timely unless the trustee receives the request at least 10 business days before the trustee's sale. (iii) An interested party submitting a reinstatement statement or payoff statement to a trustee shall submit the statement to the trustee: (A) at the address specified in the trust deed for notices to the trustee; or (B) at an alternate address approved by the trustee for delivery of mail or notices. (iv) A trustee is considered to have received a request submitted under Subsection (2)(a)(i) if: (A) the interested party submitted the request through an approved delivery method; and (B) documentation provided under the approved delivery method indicates that: (I) the request was delivered to the trustee; or (II) delivery of the request was refused. (b) (i) A trustee who receives a written request under Subsection (2)(a) shall provide the statement to the interested party. (ii) A trustee is considered to have provided the statement requested under Subsection (2)(a) on the date that the trustee deposits the statement with an approved delivery method: (A) with all delivery costs prepaid; and (B) addressed to the interested party at the address provided in the request. (c) (i) If the trustee provides a requested reinstatement statement later than five business days after the request is received, the time to reinstate under Section 57-1-31 is tolled from the date of the request to the date that the trustee provides the statement. (ii) If, after scheduling a trustee's sale, the trustee fails to provide a requested payoff statement within five business days after the request is received, the trustee shall: (A) cancel the trustee's sale; or (B) postpone the trustee's sale to a date at least 10 business days after the trustee provides the statement.

(a) (i) An interested party may submit a written request to a trustee for a statement of the amount required to be paid: (A) to reinstate an obligation secured by a trust deed; or (B) to pay off a loan secured by a trust deed. (ii) (A) A request for a reinstatement statement is not timely unless the trustee receives the request at least 10 business days before expiration of the three-month period under Section 57-1-31 to reinstate an obligation. (B) A request for a payoff statement is not timely unless the trustee receives the request at least 10 business days before the trustee's sale. (iii) An interested party submitting a reinstatement statement or payoff statement to a trustee shall submit the statement to the trustee: (A) at the address specified in the trust deed for notices to the trustee; or (B) at an alternate address approved by the trustee for delivery of mail or notices. (iv) A trustee is considered to have received a request submitted under Subsection (2)(a)(i) if: (A) the interested party submitted the request through an approved delivery method; and (B) documentation provided under the approved delivery method indicates that: (I) the request was delivered to the trustee; or (II) delivery of the request was refused.

(i) An interested party may submit a written request to a trustee for a statement of the amount required to be paid: (A) to reinstate an obligation secured by a trust deed; or (B) to pay off a loan secured by a trust deed.

(A) to reinstate an obligation secured by a trust deed; or

(B) to pay off a loan secured by a trust deed.

(ii) (A) A request for a reinstatement statement is not timely unless the trustee receives the request at least 10 business days before expiration of the three-month period under Section 57-1-31 to reinstate an obligation. (B) A request for a payoff statement is not timely unless the trustee receives the request at least 10 business days before the trustee's sale.

(A) A request for a reinstatement statement is not timely unless the trustee receives the request at least 10 business days before expiration of the three-month period under Section 57-1-31 to reinstate an obligation.

(B) A request for a payoff statement is not timely unless the trustee receives the request at least 10 business days before the trustee's sale.

(iii) An interested party submitting a reinstatement statement or payoff statement to a trustee shall submit the statement to the trustee: (A) at the address specified in the trust deed for notices to the trustee; or (B) at an alternate address approved by the trustee for delivery of mail or notices.

(A) at the address specified in the trust deed for notices to the trustee; or

(B) at an alternate address approved by the trustee for delivery of mail or notices.

(iv) A trustee is considered to have received a request submitted under Subsection (2)(a)(i) if: (A) the interested party submitted the request through an approved delivery method; and (B) documentation provided under the approved delivery method indicates that: (I) the request was delivered to the trustee; or (II) delivery of the request was refused.

(A) the interested party submitted the request through an approved delivery method; and

(B) documentation provided under the approved delivery method indicates that: (I) the request was delivered to the trustee; or (II) delivery of the request was refused.

(I) the request was delivered to the trustee; or

(II) delivery of the request was refused.

(b) (i) A trustee who receives a written request under Subsection (2)(a) shall provide the statement to the interested party. (ii) A trustee is considered to have provided the statement requested under Subsection (2)(a) on the date that the trustee deposits the statement with an approved delivery method: (A) with all delivery costs prepaid; and (B) addressed to the interested party at the address provided in the request.

(i) A trustee who receives a written request under Subsection (2)(a) shall provide the statement to the interested party.

(ii) A trustee is considered to have provided the statement requested under Subsection (2)(a) on the date that the trustee deposits the statement with an approved delivery method: (A) with all delivery costs prepaid; and (B) addressed to the interested party at the address provided in the request.

(A) with all delivery costs prepaid; and

(B) addressed to the interested party at the address provided in the request.

(c) (i) If the trustee provides a requested reinstatement statement later than five business days after the request is received, the time to reinstate under Section 57-1-31 is tolled from the date of the request to the date that the trustee provides the statement. (ii) If, after scheduling a trustee's sale, the trustee fails to provide a requested payoff statement within five business days after the request is received, the trustee shall: (A) cancel the trustee's sale; or (B) postpone the trustee's sale to a date at least 10 business days after the trustee provides the statement.

(i) If the trustee provides a requested reinstatement statement later than five business days after the request is received, the time to reinstate under Section 57-1-31 is tolled from the date of the request to the date that the trustee provides the statement.

(ii) If, after scheduling a trustee's sale, the trustee fails to provide a requested payoff statement within five business days after the request is received, the trustee shall: (A) cancel the trustee's sale; or (B) postpone the trustee's sale to a date at least 10 business days after the trustee provides the statement.

(A) cancel the trustee's sale; or

(B) postpone the trustee's sale to a date at least 10 business days after the trustee provides the statement.

(3) A trustee shall include with each statement required under Subsection (2)(a): (a) a detailed listing of any of the following that the trustor would be required to pay to reinstate or payoff the loan: (i) attorney fees; (ii) trustee fees; or (iii) any costs including: (A) title fees; (B) publication fees; or (C) posting fees; and (b) subject to Subsection (4), a disclosure of: (i) any relationship that the trustee has with a third party that provides services related to the foreclosure of the loan; and (ii) whether the relationship described in Subsection (3)(b)(i) is created by: (A) an ownership interest in the third party; or (B) contract or other agreement.

(a) a detailed listing of any of the following that the trustor would be required to pay to reinstate or payoff the loan: (i) attorney fees; (ii) trustee fees; or (iii) any costs including: (A) title fees; (B) publication fees; or (C) posting fees; and

(i) attorney fees;

(ii) trustee fees; or

(iii) any costs including: (A) title fees; (B) publication fees; or (C) posting fees; and

(A) title fees;

(B) publication fees; or

(C) posting fees; and

(b) subject to Subsection (4), a disclosure of: (i) any relationship that the trustee has with a third party that provides services related to the foreclosure of the loan; and (ii) whether the relationship described in Subsection (3)(b)(i) is created by: (A) an ownership interest in the third party; or (B) contract or other agreement.

(i) any relationship that the trustee has with a third party that provides services related to the foreclosure of the loan; and

(ii) whether the relationship described in Subsection (3)(b)(i) is created by: (A) an ownership interest in the third party; or (B) contract or other agreement.

(A) an ownership interest in the third party; or

(B) contract or other agreement.

(4) Subsection (3)(b) does not require a trustee to provide a trustor: (a) a copy of any contract or agreement described in Subsection (3)(b); (b) specific detail as to the nature of the ownership interest described in Subsection (3)(b); or (c) the amount of compensation the trustee receives related to the foreclosure of the loan under a relationship described in Subsection (3)(b).

(a) a copy of any contract or agreement described in Subsection (3)(b);

(b) specific detail as to the nature of the ownership interest described in Subsection (3)(b); or

(c) the amount of compensation the trustee receives related to the foreclosure of the loan under a relationship described in Subsection (3)(b).