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Timelines (and the Statute of Limitations) for Foreclosing on a Trust Deed in Utah

By SNJ Legal / April 16, 2021 March 24, 2022

Joseph G. Ballstaedt801.365.1021joe@snjlegal.com In Utah, trust deeds are often used to secure loans, ranging from loans for homebuyers to loans for general contractors used to finance real estate developments. The real property identified in the trust deed acts as collateral. If the debtor fails to pay, the lender can sell the property in a foreclosure …

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The Risks and Benefits of a Personal Guaranty

By SNJ Legal / January 22, 2020 March 24, 2022

Joseph G. Ballstaedt801.365.1021joe@snjlegal.com What is a personal guaranty? A personal guaranty is a legally binding promise that a person will fulfill the financial responsibilities of another. They are generally used to protect lenders or other types of creditors. For example, many lenders require small business owners to sign a personal guaranty as additional assurance of …

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Tips to Businesses Extending Credit

By SNJ Legal / June 30, 2015 August 5, 2022

If your business extends credit to customers or if you are considering starting to extend credit to your customers, there are a few simple things you can do help with your ability to collect the money owed to you on your credit accounts. 1) Get it in Writing. Ideally you will have every customer that …

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