Utah Real Estate Code 57-1-19: Trust Deeds–Definitions of Terms• “Beneficiary” means the person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or his successor in interest. A Deed of Trust is essentially an agreement between a lender and a borrower to give the property to a neutral third party who will serve as a trustee. The trustee holds the property until the borrower pays off the debt. During the period of repayment, the borrower keeps the actual or equitable title to the property and maintains full responsibility for the premises, unless expressly stated otherwise in the Deed of Trust. The trustee, however, holds the legal title to the property. Deeds of Trust are not as common as they once were. Although they serve the same purpose as a land security agreement, these agreements are not the same as mortgages. In a traditional mortgage, everyone involved has an interest in the outcome. A Deed of Trust, by contrast, involves an impartial trustee. The trustee must be impartial in this arrangement because he must be prepared to sell the property to satisfy the debt if the borrower defaults. All states require that the trustee remains neutral to ensure that the trustee does not try to alter the price to benefit either the borrower or the lender. A foreclosure sale under a Deed of Trust does not have to follow the same procedures as a judicial foreclosure, which requires stricter parameters and a higher level of accountability; no judicial supervision is required for a foreclosure sale under a Deed of Trust in most states. Once the sale is complete, the trustee will distribute the proceeds between the borrower and the lender. The lender gets whatever funds are required to satisfy the debt, and the borrower receives anything in excess of that amount. This setup allows the lender to purchase the property, closing out the debt and satisfying all of the requirements of the deed. This is another detail that separates the Deed of Trust from a typical mortgage, since typical mortgages have specific legal requirements in addition to the sales. How Is a Deed of Trust Different from a Mortgage or a Promissory Note?In some states, a deed of trust is used instead of a mortgage. A mortgage agreement creates a lien against the real property, protecting the lender from a situation where the borrower defaults on their obligations. While both a deed of trust and a mortgage provide a security interest for the lender in the property, the lender does not hold the security interest as is the case in a traditional mortgage. A mortgage agreement is between two parties: the borrower and the lender. With a deed of trust, a third-party trustee holds the equitable title to the real property secured by the deed. Deeds of trust are used in conjunction with promissory notes. The deed of trust is the security for the amount loaned to finance the real estate purchase, and is secured by the underlying piece of real estate. The deed of trust is what secures the promissory note. The promissory note includes the interest rate, the payment amounts and terms, and the buyer’s promise to pay the lender the amount borrowed plus interest. The promissory note is held by the lender until the loan is paid in full, and generally is not recorded with the county recorder or registrar of titles (sometimes also referred to as the county clerk, register of deeds, or land registry) whereas a deed of trust is recorded. Parties to a Deed of TrustThere are three parties to a deed of trust, as opposed to a traditional real estate mortgage in which the parties are simply the borrower and the lender. A deed of trust includes the following parties: • Trustor – This is the borrower (the person purchasing the home or other piece of real estate). • Lender – This is the person or entity putting up the funds for the purchase. • Trustee – This is an independent third party that holds legal title to the real estate. The trustee is independent because they do not represent either the seller or the buyer in a real estate transaction. The trustee is usually a separate legal entity like a title company. Trustee’s Rights under a Deed of TrustThe trustee retains the right to sell the property if the trustor (borrower) defaults on their obligations under the agreement. If the terms of the loan are met and the buyer meets their obligation, then the trustee transfers/reconveys ownership of the property to the buyer who will then hold equitable title to their property. When Should a Deed of Trust Be Used?Some states are “mortgage states” that do not use deeds of trust. In other states, state law requires the use of a deed of trust whenever the buyer is borrowing some or all of the money needed to finance their purchase of real estate. In approximately 15 states, either a mortgage or a deed of trust may be used to secure the lender’s interest in a real property transaction. From the lender’s standpoint, using a deed of trust may be preferable because doing so allows them to legally sidestep what can be a time-consuming and expensive judicial foreclosure process, if the borrower defaults on their loan payments. What Is a Trustee?A deed of trust includes an independent third party—the trustee—who doesn’t represent either the borrower or the lender. The trustee is typically an entity such as a title company that holds “power of sale” in the event that the borrower defaults. Once the deed is paid in full, the trustee reconveys the property to the buyer. The trustee can file a notice of default in the event that the borrower doesn’t pay according to the promissory notes terms, but the trustee will often substitute another trustee to handle the foreclosure itself. This is accomplished by filing a formal Substitution of Trustee in most cases. The trustee has the power to sell the property on the courthouse steps in the event of default, without a court procedure. This is called non-judicial foreclosure, and it’s a key difference between a deed of trust and a mortgage, in which a bank must go through the court to initiate a foreclosure. Laws vary by state, but the trustee cannot complete the foreclosure until after a certain amount of time has passed since the notice of default was filed. Some states also allow a redemption period, in which the borrower has time to buy back the property after a non-judicial foreclosure. What Is a Promissory Note?The deed of trust documents the terms of the debt, secured by the property. Although it often goes hand-in-hand with a deed of trust, the promissory note is a separate document. Essentially, a promissory note is s a promise to pay, signed by the borrower in favor of the lender. It contains the terms of the loan, such as the interest rate and payment obligations. The promissory note is generally not recorded publicly. The promissory note is marked “paid in full” when the loan is paid off and it’s returned to the borrower along with a recorded reconveyance deed. The lender retains the promissory note during the term of the loan. The borrower has only a copy until the loan is paid off. Before Signing a Promissory Note and Deed of TrustRead both documents, including the preprinted portions, before you sign a promissory note and a deed of trust. Preparers are human and can make mistakes, so it’s important to review certain items: Steps To Take When Making a Declaration of TrustA trust deed changes who benefits from the property, in other words, who the true owners are. You should register it at the Land Registry (so that it is recorded on the public record). The change of ownership can be enforced in a court. The first consideration is therefore whether making a declaration of trust is in the interests of all parties. Responsibility for the upkeep of the property and any mortgage repayments will change proportionally as well. The next matter to consider is what proportion each owner will own. The total cost of the property is likely to include the purchase transaction fees, stamp duty, mortgage interest and perhaps obvious repairs or renovations. Your deal with the other owners might be that you pay some of these disproportionately to your share. The proportions that you set out in the trust deed are those in which any sale proceeds will be distributed. If the property is sold for less than total costs, someone financing the deposit might not get back that entire he or she put in. You can put other matters in the trust document, such as how repairs to the property will be paid for. However, because your deed is likely to be registered and available for public inspection, you might not want to keep those types of arrangements private. You can record them in another agreement between yourselves. The deed of trust must be created by the registered owners and with the knowledge and approval of all the true owners. If the consent of the registered owner has not been given, the deed could be void, and registration of it could be fraudulent. You can make a declaration of trust at any time. Usually, one is made on the completion date of the property purchase so that the true owners never risk that their interest in the property cannot be claimed by them. Alternatives to Using a Deed of TrustYou don’t have to make a deed. Alternatively, if there are four or fewer beneficial owners then you could use an agreement under hand (a normal agreement that does not have to be witnessed) called tenants in common agreement. As far as ownership is concerned, this has the same effect as a declaration of trust. The difference is that a trust is not made. Difference between a Deed and a Deed of TrustWith a deed, you transfer the ownership of the property to one party. When a property is bought, the deed is drawn up and signed by both the seller and the buyer, and, if the conditions of the contract are all met, the seller transfers the title and all the attached rights in the name of the buyer. The deed contains a legal description of the property, as well as the name of the previous owner and the conditions as to how he will transfer the property to the buyer. The deed should then be notarized and recorded in the county records section. There, the abstract of title is updated to add the new owner. In contrast, a deed of trust does not mean the holder owns the property. In an arrangement involving a deed of trust, the borrower signs a contract with the lender with details regarding the loan. The holder of the deed of trust is an accredited third party, and holds the property until all the conditions of the contract are met. That is, until the loan is fully paid. When the loan is paid, the deed of trust is released and the borrower gets the full ownership of the property. However, in the event that the borrower is unable to keep up with the payments of the loan, the holder of the deed of trust has the right to foreclose and sell the property. What happens is that the lender presents proof that the borrower has been delinquent in his payments. The deed of trust simplifies the foreclosure process in that the lender does not have to go through a court proceeding to start the foreclosure. What happens is that the holder of the deed of trust sells the property in behalf of the lender. Some of the key elements of the deed of trust include: Terms Used In Utah Code 57-1-19• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Real Estate AttorneyWhen you need legal help with a real estate attorney in Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
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Utah Code Real Estate 57-1-15: Effect of Recording Assignment of MortgageThe recording of an assignment of a mortgage is not in itself considered notice of the assignment to the mortgagor, his heirs, or personal representatives so as to invalidate any payment made by them or either of them to the mortgagee. Mortgage AssignmentA mortgage assignment, also referred to as an “assignment of mortgage”, occurs when the lender of the loan transfers their loan obligations to a third party. The lender will usually assign a mortgage by selling it to a new bank or lender. If this happens, the borrower will owe any previous obligations to the new lender. After the transfer, the newer lender essentially “stands in the shoes” of the old lender and assumes the rights and duties associated with the mortgage agreement. Sometimes borrowers can assign their mortgage rights to a third party as well. However, this is not as common. Any mortgage assignments must be recorded with the county recorder’s office. This is the department that stores and maintains records of property titles and transactions affecting deeds and titles. Generally, a title search at a local recorder’s office is supposed yield information as to whether there has been an assignment of mortgage rights. Any recordings of an assignment can affect subsequent legal proceedings, such as a foreclosure proceeding or a judicial lien hearing. As such, it is important to record assignments so the chain of title is clear. Requirements for Executing a Mortgage AssignmentTo carry out a mortgage assignment, the parties will need to execute a document that includes all the information necessary to complete the transfer. Assignment documents are generally required to contain the following information: • Mortgage: A mortgage (or a deed of trust) is the document that pledges the property as a security for the mortgage debt and allows the lender of the mortgage to foreclose on the property if borrower fails to make monthly payments. Are there any Defenses to Mortgage Assignments?When banks buy or sell mortgages from other banks and execute an assignment, the bank is required to record the mortgage assignment and also have the promissory note signed over to retain possession of the loan. One defense a homeowner may use in this situation occurs when the bank is foreclosing on the property. The homeowner may be able to use the “produce the note” defense. With this defense the homeowner can demand the foreclosing bank to produce the original promissory note. This can help prove that they are the true owner of the mortgage debt and have the legal right to foreclose. As noted above, the promissory note is what gives an entity the right to collect debt. There are times when the new bank does not do the proper paperwork to prove that they own the note and the mortgage, which would help make this defense successful. What Does a Quit Claim Deed Accomplish?If two people hold title to property, whether as tenants in common, joint tenants, or tenants by the entireties, both must agree in order to sell, mortgage, or will the property. A quit claim deed in a divorce or legal separation gives one party the sole ownership of the property. This allows that party to sell or mortgage the property without the approval or consent of the other party. It also allows that party to execute a will to give the property to anyone he or she desires. How Does a Quit Claim Deed Affect a Mortgage?If you and your spouse jointly own the property, both of you are most likely obligated on the mortgage. If your spouse is being awarded the property, you are probably wondering, “How do I get my name off the mortgage after divorce?” In a divorce, the ownership of the property and the debt owed for that property are two separate issues. One factor that may come into play is whether the party who is awarded the property is also given primary physical custody of any children. Regarding the debt on the property, the three most common results are: Assuming that the divorce settlement agreement or judgment requires your ex-spouse alone to pay the mortgage, it does not, however, require the mortgage holder to release you from the loan obligation. Once you get the final judgment, you can contact the lender, explain the situation, and ask if it is possible to be released from the obligation. However, since having two people to go after in the event of default is better than only having one person; it is unlikely that the lender will release you. If your ex-spouse defaults on the mortgage, the lender will join both of you in a foreclosure lawsuit. If your ex-spouse defaults, your recourse will be to go back to the court that granted the divorce. While the court cannot release you from the mortgage, it can order your ex-spouse to reimburse you for anything you need to pay to the lender, or re-structure the property division to compensate you. Who Prepares The Quitclaim Deed Form?These deeds are basic documents that can be created on your own, or through your family law attorney, or through an escrow or title company. A quitclaim deed is considered a legal document. As a result, it is always advisable to have a lawyer draft the deed itself or to have them review it before you agree to execute it. Why Would I Need To Sign A Quitclaim Deed?Divorce settlements usually result in one spouse retaining the marital home. The spouse that does not retain the property will likely need to execute a quitclaim deed. A quitclaim deed will remove the out-spouse (or departing spouse) from the title to the property, effectively relinquishing their equity or ownership in the home. The execution of a quitclaim deed is typically a requirement of a divorce settlement in order to complete the division of assets. The departing spouse’s interest in the property is likely to be converted to cash via a property buyout, or it can be offset by other community assets that will be retained in lieu of the marital home. It is presumed that the spouse conveying the property via quitclaim deed has some level of community interest to give up. Does A Quitclaim Deed Affect The Mortgage?It is a common misconception that signing a quitclaim deed will accomplish both of the following: In fact, a quitclaim deed and transfer of ownership have no impact whatsoever to the status of the existing mortgage. If the existing mortgage is a joint obligation in both spouse’s names, then that loan will either need to be refinanced or assumed by the retaining spouse in order for the debt to be removed from your credit report. The quitclaim deed alone does not impact the joint ownership of this lien. If your name remains on the mortgage after you’ve quit claimed your ownership in the property, any lender can still hold you accountable for the mortgage payments in the event a payment is missed. Can A Quitclaim Deed Filing Be Reversed?Once you sign a quitclaim deed and it has been filed and recorded with the County Clerk’s Office, the title has been officially transferred and cannot be easily reversed. In order to reverse this type of transfer, it would require your spouse to cooperate and assist in adding your name back to the title. This is not an easy assignment. The courts would need to get involved if you felt this deed was signed under duress, or if you did not receive the valuable consideration that was a condition of your transferring the property. This highlights the need for careful thought and consideration before executing such an instrument as the quitclaim deed. The legal ramifications of a quitclaim deed and its impact on community property claims will vary state to state. Difference between a Mortgage Assignment and an Endorsement (Transfer) Of the NoteBanks use assignments and endorsements to transfer mortgages, deeds of trust, and promissory notes to other banks. When you take out a loan to purchase a home, you are required to sign two documents: a promissory note and a mortgage (or deed of trust). Assignments and endorsements are the ways that these documents are transferred between banks. If you’re facing a foreclosure and the foreclosing bank doesn’t have the proper endorsements and assignments, you might have a defense to the foreclosure. To fully understand the difference between an assignment of mortgage (or deed of trust) and endorsement of the note, you must understand the basic terms and documents involved in a residential mortgage transaction. • Mortgagee and Mortgagor: In a mortgage, a “mortgagee” is the lender. The mortgagee gives the loan to the “mortgagor,” who is the homeowner/borrower. • Loan documents: The loan transaction consists of two main documents: the mortgage (or deed of trust) and a promissory note. The mortgage (or deed of trust) is the document that pledges the property as security for the debt and permits a lender to foreclosure if you fail to make the monthly payments, whereas the promissory note is the IOU that contains the promise to repay the loan. The purpose of the mortgage (or deed of trust) is to provide security for the loan that is evidenced by a promissory note. • Loan Transfers: Banks often sell and buy mortgages from each other. An “assignment” is the document that is the legal record of this transfer from one mortgagee to another. In a typical transaction, when the mortgagee sells the debt to another bank, an assignment is recorded and the promissory note is endorsed (signed over) to the new bank. These documents are separate and each has its own distinct set of rules that govern how they are exchanged between banks. Promissory NotesWhen a loan changes hands, the promissory note is endorsed (signed over) to the new owner of the loan. In some cases, the note is endorsed in blank which makes it a bearer instrument under Article 3 of the Uniform Commercial Code. This means that any party that possesses the note has the legal authority to enforce it. Assignments and endorsements prove which party owns the debt and therefore may bring the foreclosure action. If the documentation was not proper, this can provide a defense to foreclosure in some cases. If you’re facing a foreclosure and think the foreclosing party in your case doesn’t have the right documentation, consider talking to an attorney who can give you information about the laws in your state, let you know whether an argument based on the right to foreclose (called “standing”) is likely to be successful in your case, and give you advice about what to do in your particular circumstances. Terms Used In Utah Code 57-1-15 Real Estate AttorneyWhen you need a Utah Real Estate Attorney, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
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The post Utah Real Estate Code 57-1-15 first appeared on Michael Anderson. via Michael Anderson https://www.ascentlawfirm.com/utah-real-estate-code-57-1-15/ Utah Real Estate Code 57-1-14. Form of Mortgage-EffectA mortgage of land may be substantially in the following form: MORTGAGE A mortgage when executed as required by law shall have the effect of a conveyance of the land therein described, together with all the rights, privileges and appurtenances thereunto belonging, to the mortgagee, his heirs, assigns, and legal representatives, as security for the payment of the indebtedness thereon set forth, with covenants from the mortgagor of general warranty of title, and that all taxes and assessments levied and assessed upon the land described, during the continuance of the mortgage, will be paid previous to the day appointed for the sale of such lands for taxes; and may be foreclosed as provided by law upon any default being made in any of the conditions thereof as to payment of either principal, interest, taxes, or assessments. Types of Home Mortgages Available To BuyersThere are three major types of home mortgages – fixed-rate mortgages, adjustable rate mortgages and alternative or combination mortgages. Each of these has its benefits and disadvantages along with different types of lending and interest setups within each major type. A fixed rate mortgage is your standard, typical, mortgage. Its main advantage is that your housing costs are predictable – you know how much you can expect to pay every month, when your mortgage will be paid off and exactly how much it will cost you in interest payments. Typically, a fixed rate mortgage comes in a 30-year term. However, homeowners who are refinancing their homes have increasingly been tapping into shorter 15-year terms, while first time home buyers sometimes consider terms as long as 40 years in order to pay less on their monthly debt. Another popular type of fixed-rate mortgage is the bi-weekly mortgage. Because making your mortgage payments on a bi-weekly basis allows you to make two extra mortgage payments every year (therefore the equivalent of 13 monthly payments instead of the normal 12), you can pay down your mortgage faster and save tens of thousands of dollars on interest alone. The major disadvantage of a fixed rate mortgage is that if you get your loan when interest rates are high, you’re locked in at that rate. So, if interest rates fall, you lose out on that potential interest savings and would then need to walk through the steps of refinancing the loan to get a lower rate. Adjustable Rate MortgageAdjustable rate mortgages become very popular when interest rates are high. Typically, lenders offer a low, introductory interest rate followed by an interest rate that’s based on the market average, or slightly above the prime rate. In this scenario, as interest rates rise and fall, so do your mortgage payments. Bear in mind, though, that the key risk with an adjustable rate mortgage is if the general real estate market rate rises, one’s monthly mortgage payment (on the interest) will rise as well. If you’re part of a family that expects its income to rise over the years, are only planning to own your home for a short period of time, anticipate stable mortgage interest rates in the foreseeable future, or simply want to get into the housing market but the interest rates are simply too high to lock in with a fixed rate mortgage, than an adjustable rate mortgage is for you. Combination MortgagesIt is possible to obtain mortgages that change their type as they mature. For example, the Super Seven or Two-Step mortgage gives homeowners a low, predictable interest rate for the first seven or ten years of their mortgage. At that point, their interest is reevaluated based on current market conditions. The benefit is a lower interest rate to start, particularly if you plan to sell the home within 7 years. Depending on rates, your interest rate could jump as high as 6 or 7 percent by the end of your term. The type of mortgage you ultimately select for the purchase of a home is a weighty decision that must factor in a number of risks and personal circumstances. Before jumping into the excitement of new home especially for first time buyers you should talk over options with your spouse, other family members, and those who have some expertise in matters of finance and real estate. Can You Buy a House With a Personal Loan?Personal loans are not typically used to pay for a house. However, there may be some exceptions in certain situations where it’s not only possible, but it may be a better option than a mortgage loan. If you’re buying a standard single-family home, getting a mortgage is your best bet. Personal loans typically have much shorter repayment terms and higher interest rates than mortgage loans, making them a poor choice in that situation. However, if you’re planning to purchase a very small home or mobile home, where the cost is much lower, a personal loan may be a decent option. In fact, it can be difficult to find a traditional mortgage lender who will lend you money to finance a tiny house or a mobile home. Some lenders market personal loans specifically for use with a very small house or mobile home. If you go this route, however, keep in mind that it will be considered a cash offer. This means that you won’t be using the home as collateral for the loan, and the seller may be more willing to choose you because the sale isn’t contingent on a mortgage process. Can You Use a Personal Loan for a Down Payment?If you’re buying a standard home and need a traditional mortgage, your down payment requirement can typically range from 3% to 20%, depending on the lender and the situation. While it may be tempting to use a personal loan to cover this amount, you’ll have a hard time convincing the mortgage lender to accept it. The primary reason for this is that a personal loan increases your debt-to-income ratio (DTI), which can hurt your chances of getting approved. Also, it could be a sign that you can’t manage your money well, which can be a red flag for mortgage lenders. Legitimate uses for a personal loan include consolidating debt, paying medical expenses, starting a business, renovating your home and financing a large expense. How a Personal Loan Impacts CreditWhile getting a personal loan to buy a small house or mobile home can be a good option, it’s important to understand how it might affect your credit. In general, applying for any type of credit can knock a few points off your credit score when the lender runs what’s called a hard inquiry on your credit report. That said, inquiries generally don’t have a lasting impact on your scores. The primary way a personal loan affects your credit is how you handle your monthly payments. If you pay your bill on time every month, the positive payment activity can improve your credit scores. On the flip side, missing a payment or defaulting on the loan can wreck your credit, even if you get to keep the home. To help you stay on track with loan payments, consider setting up automatic payments. Some lenders may even offer an interest rate discount if you do this. Another option is to set up alerts to remind you each month when your payment is due. Check Your Credit before Applying for a LoanRegardless of which loan you’re planning to use to buy your home, it’s important to make sure your credit is in good enough shape to qualify for favorable terms. Check your credit score to know where you stand, and look for any areas you might need to address before you apply. You may be able to qualify for a loan with a relatively low credit score. But the higher your score, the better your chances of getting a lower interest rate. And as with any loan, make sure you shop around and compare several lenders to ensure you get the best rate available. Is a Home Loan an Asset or a Liability?A home loan can be a great way to finance a property. It allows you to pay for your home over a period of time versus paying cash for it upfront. A mortgage can be an asset or a liability, depending on if you’re the borrower or the lender. A liability refers to a financial obligation that you’re responsible for, such as a debt. An asset refers to an item of value that belongs to you. Liability for the BorrowerA home loan is a liability, or financial obligation, for a borrower. The bank lends you money to purchase a home in the form of a home loan, also called a mortgage. This is a form of debt. By signing the loan agreement, you accepted liability for the debt and its repayment. The lender expects you to repay that loan and with interest. As the borrower, you generally pay the principal and interest in installments over a set period of years. This liability attaches to all signers of the loan agreement, including the borrower, co-borrowers or co-signers, if applicable. Asset for the LenderA home loan is an asset for the lender. The home loan payments are a form of accounts receivable that the lender expects to receive payment on. These receivables are secured by the property itself, which the lender maintains a lien on until the loan is repaid. This is how lenders make money. The lender extends a principal amount to you but charges you interest for the privilege. Alternatively, the lender can make money by selling the entire loan to another company. The Home Is Your AssetAlthough the home loan is a liability, the home itself is generally considered an asset to the borrower. The lender maintains a lien on the property, but you are considered the owner of the home as long as you remain current on your mortgage and other obligations, like property taxes. Since the home is an asset of value, you can make changes to increase the value of your asset, such as home improvement upgrades. You may also be able to access the equity of the property. Equity is the difference between the fair market value of the home and the amount you still owe on it. The equity can be accessed via a home equity loan or a home equity line of credit. However, accessing the equity in your home does result in the creation of an additional debt, which is a liability. Default is a liability for the borrower and the lender. A default on the home loan generally occurs when you violate the terms of the home loan agreement, usually by missing mortgage payments. Missed payments may incur late payment fees or lead to a foreclosure, where you lose the underlying asset. A default causes the lender to lose revenue and incur collection costs. If a foreclosure occurs, the lender will receive the home; however, the home may not truly be an asset for the lender if the amount owed on the loan is greater than the value of the property. In this case, the lender will suffer a loss unless it is able to either sell the property for enough to cover the amount owed or recoup the total amount owed on the loan from the borrower. How Interest Rates Affect the Housing IndustryInterest rates in the Utah are determined by a number of factors, including the actions of the Federal Reserve, the health of the economy and the rate at which people are saving money. Given that most home sales are financed through the borrowing of money in the form of mortgages, the housing industry is profoundly affected by changes to these rates. Interest rates are the rates at which money can be borrowed for a set period of time. The higher the rate, the more money a borrower must pay in the form of interest on the loan. The Federal Reserve sets a rate at which it lends money to banks and other financial institutions, which in turn affects the rate at which they lend to businesses and individuals, such as people seeking a mortgage. Generally, when the interest rate is lower, people are more likely to borrow money, as doing so will cost them less than at another time. Conversely, when the interest rate is higher, borrowing becomes more expensive and slows. This principle applies to loans that come in the form of mortgages. When interest rates are lower, people are generally more willing to take out a mortgage than when rates are higher. When mortgage rates are lower, this makes the purchasing of a home more affordable. Consequently, the sales of homes rise as more consumers are able to take out a low-cost loan. Consumers with existing mortgages may attempt to re-finance their mortgage, meaning they trade their current loan for another, cheaper one. In periods of low interest rates, more houses are often built as demand rises, and development companies are able to borrow money at a cheaper rate to finance the construction. Although the cost of mortgages is closely tied to the interest rate, the price at which homes are sold does not always appear in direct correlation. While low interest rates can raise demand for houses, pushing up the prices of houses, if the price gets too high, demand can cool, causing house prices to plummet. Not all mortgage rates are fixed at the time that the loan is taken out. With an adjustable-rate mortgage, the interest rate of the loan varies with prevailing interest rates and may change as often as every month. Most adjustable-rate mortgages have their rates tied to an index of financial securities, one that changes with the movement of the market. Real Estate LawyerWhen you need legal help from a real estate lawyer in Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
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Genetic Information Nondiscrimination Act Law The post Utah Real Estate Code 57-1-14 first appeared on Michael Anderson. via Michael Anderson https://www.ascentlawfirm.com/utah-real-estate-code-57-1-14/ What is Form D?Form D is an SEC filing form to be used to file a notice of an exempt offering of securities under Regulation D of the U.S. Securities and Exchange Commission. Commission rules require the notice to be filed by companies and funds that have sold securities without registration under the Securities Act of 1933 in an offering based on a claim of exemption under Rule 504 or 506 of Regulation D or Section 4(6) of that statute. Commission rules further require the notice to be filed within 15 days after the first sale of securities in the offering. For this purpose, the date of first sale is the date on which the first investor is irrevocably contractually committed to invest. If the due date falls on a Saturday, Sunday or holiday, it is moved to the next business day. Privately held companies that raise capital are required to file a Form D with the SEC to declare exempt offering of securities. Many of these filings show investments in small, growing companies through venture capital and angel investors, as well as certain pooled investment funds. Companies that sell securities typically have to register with the Securities and Exchange Commission (SEC) under the Securities Act of 1933. This is a long process and can make it complicated to follow and understand the law. Smaller companies seeking venture capital can instead file Form D – a process that is quicker, simpler and protects the company from potential legal problems. Why Is Form D Important?Form D is important because it keeps you within legal boundaries. You can’t simply begin selling securities to fund your business without filing the appropriate paperwork. If your offerings aren’t public, you can avoid the typical registration process. Regardless of your final decision, you must let the SEC know you’re offering securities. Keep in mind that you must raise funding from “accredited investors” for the Form D exemption to apply as noted in Rule 506 of Regulation D . These are investors who usually earn over $200,000 a year or are worth at least $1 million. You can also offer securities to companies worth at least $5 million. By either registering with the SEC or filing Form D, a business has taken the time to show they’re not providing an illegal public offering. Reasons to Consider Not Using Form DThere are many exemptions from registering with the SEC, but companies usually stick with Form D because it provides the most benefits. That’s why there are very few reasons to consider not using Form D. These include the following: Reasons to Consider Using Form DThere are several benefits to filing Form D, which is why it’s the most popular exemption to the rule requiring Securities Act of 1933 registration. The following are some of the biggest reasons to consider using Form D: Deadline for Filing Form DYou must file Form D within 15 days of beginning to sell securities. Qualifying for an exemption under Regulation D isn’t enough if you don’t file on time. Your first “sale” only occurs when an investor is completely under contract to provide funding. This timeline refers to 15 business days. If your filing deadline expires on a holiday, Saturday or Sunday, you must have it in by the following business day. SEC Form D and Private PlacementsRegulation D governs private placements of securities. A private placement is a capital raising event that involves the sale of securities to a relatively small number of select investors. These investors are often accredited and can include large banks, mutual funds, insurance companies, pension funds, family offices, hedge funds, and high and ultra-high net worth individuals. As these investors usually have significant resources and experience, standards, and requirements for a private placement are often minimal – in contrast with a public issue. In a public issue or traditional IPO, the issuer (private company going public) collaborates with an investment bank or underwriting firm. This firm or syndicate of firms helps determine what type of security to issue (e.g., common and/or preferred shares), the amount of shares to issue, the best offering price for the shares, and the perfect time to bring the deal to market. As traditional IPOs are often purchased by institutional investors (who then are able to allocate portions of shares to retail investors), it is critical that such public issuances provide thorough information to help less experienced investors fully understand the potential risks and rewards of partially owning the company. Steps to File Form DIf filing Form D, you must do so online. Here are the steps you’ll need to take. SEC Form D AmendmentsWhen a company decides to raise capital, the company must file Form D giving notice of an exempt offering of securities with the Securities and Exchange Commission. Commission rules require the notice to be filed by companies and funds that have sold securities without registration under the Securities Act of 1933 in an offering based on a claim of exemption under Rule 504, 505 or 506 of Regulation D or Section 4(5) of that statute. Companies and funds must file their Form D amendments with the SEC online using the SEC’s EDGAR (electronic gathering, analysis and retrieval) system. Form D Amendments FilingA Form D filer should review the following guidance in determining whether it should file an amendment to a previously filed Form D notice: When Amendment is not required?A filer is not required to file an amendment to a previously filed notice to reflect a change that occurs after the offering terminates or a change that occurs solely in the following information contained in a previous Form D notice or amendment: • the address or relationship to the issuer of a related person identified; What happens if you fail to file amendments to Form D?Failing to file can expose your company to liability in two areas: Failure to File Form DIssuers relying upon Regulation D are required to file a Form D; however, it is not a condition to qualify for the Regulation D exemption. The SEC has stated that the failure to file a Form D will not result in the loss of the exemption provided by Regulation D. The SEC provides guidance on an issuer’s failure to file Form D in Question 257.07 of its Securities Act Rules. Under Rule 507 of Regulation D, the SEC can take action against the issuer that fails to file a Form D, having the issuer enjoined from future use of Regulation D. In some instances, if the violation of Regulation D is willful, it could also constitute a felony. Issuers should not ignore the requirement to file a Form D even though it is not a condition of the Regulation D exemptions. In litigation against issuers arising from Regulation D, the filing of a Form D may serve as a mitigating factor to show compliance or attempted compliance with Regulation D, particularly when there is a fraud allegation. Additionally, a Form D filing is required by most states in order to comply with their exemption from registration. As such, any company conducting an offering in reliance upon Regulation D should consult with securities counsel prior to accepting investor funds. 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The post Do I Need To File A Form D? first appeared on Michael Anderson. via Michael Anderson https://www.ascentlawfirm.com/do-i-need-to-file-a-form-d/ Every loan workout of a distressed company is distinct. Numerous factors drive the secured lender’s strategies and tactics, including whether the borrower has a sustainable core business, strength of management, the type and value of the lender’s collateral, cash flows, industry strengths and weaknesses, junior debt-holders and lien-holders and the potential effects of a Chapter 11 bankruptcy proceeding. These factors and others affect the strategies and leverage of a secured lender in taking action to protect and assert its rights and interests, as well as its ability to structure an exit strategy. No single strategy is effective for every workout situation. Lenders, workout counsel and consultants must be prepared to roll with the waves and change their strategies and tactics. However, certain steps should be considered in most workouts by a secured lender. Distressed borrowers tend to hope that financial problems will go away and solve themselves over time. Secured lenders often do the same when issues surface with their borrowers. Seldom, however, do such problems solve themselves without special and immediate attention. Red flags—such as declining cash flow and sales, loss of major customers, ineptitude or changes in management, failure to meet budgets and projections, requests for over-advances, borrowing base issues and failure to pay as agreed require immediate explanation, evaluation and attention. If management’s explanations or the secured lender’s field audits do not provide adequate explanations and solutions to the issues, independent workout consultants should be retained. Retention of Experienced Workout ConsultantsExperienced workout consultants are critical to a successful workout and restructuring of a distressed borrower. Too often, a secured lender and/or borrower will delay the retention of a consultant, unwilling to incur additional costs. However, the cost of a secured lender’s consultant typically can be added to the outstanding debt, and the consultant may later be a critical witness for the secured lender in a bankruptcy proceeding or litigation. An experienced workout consultant retained by the borrower can produce cash savings that more than cover the retainer agreement. The consultant should examine special issues such as unfunded pensions, leases, long-term contracts, litigation, cash flows and management issues. Advice in these areas can dramatically improve the results of a workout. Secured lenders should always consider having their counsel retain the consultant in order to potentially protect the consultant’s work product as Attorney Work Product. At times, a secured lender may require its borrower to retain a consultant as a condition to further lending under a forbearance agreement, as discussed further below. Whether retained by the secured lender or borrower, an experienced workout consultant can provide significant value. However, it is important that the scope of work and fees be addressed in advance to minimize disruption to the borrower’s operations and to keep costs as low as reasonably possible, so the borrower benefits from the process. Documentation and Collateral Perfection AnalysisPrior to proceeding with a workout, a secured lender and its counsel should always perform a documentation and collateral perfection examination. Updated Uniform Commercial Code, tax lien and judgment lien searches should be performed on an urgent basis at the beginning of a workout. Security and loan agreements, landlord waivers, deposit account control agreements, intercreditor agreements and guarantees should be examined to assure that all executed copies are in the file. Perfection on special collateral, such as trademarks, patents and other intellectual property, in addition to causes of action of the borrower in litigation, should be examined. Secured lender’s counsel should also examine whether any delays in perfection might cause any concerns that the secured lender’s liens could be avoided as a preference or fraudulent conveyance in a bankruptcy proceeding. Finally, the effects of a bankruptcy proceeding on the rights of the secured lender should be examined and considered by the secured lender and its counsel in forming the strategies for the workout. Collateral Review, Analysis and ValuationField audits of inventory, accounts receivable and equipment should be performed to assure the accuracy of the borrower’s borrowing base and other collateral reports. The potential of obtaining additional liens on unencumbered assets and second liens on collateral in which another party has a lien should be considered as consideration for continued lending. Going-concern and orderly liquidation appraisals should be considered in the event of a bankruptcy proceeding or foreclosure. The retention of the appraiser by secured lender’s counsel should be considered in order to potentially protect the appraiser’s report as attorney work product. All of the above should be completed in order to help the secured lender, its counsel and other advisors form a strategy going forward, both in and out of a bankruptcy proceeding. The secured lender and its advisors should develop a special strategy for any “icebergs,” i.e., collateral that deteriorates without the ability to move it. Cash Flow Budgets and ProjectionsShort-term (four weeks, thirteen weeks) and long-term cash flow budgets and projections should be performed by the borrower and tested by the secured lender and its advisors to determine what additional over-advances or funds from equity or other interested parties are necessary to accomplish the restructure. “Budget-to-actual” reports should be required on at least a monthly basis in order to assure budget compliance. Forbearance AgreementsForbearance agreements are often requested by distressed borrowers during the restructuring period to avoid interruption by the secured lender. However, a properly drafted forbearance agreement can also provide significant benefit to the secured lender. The following benefit to the secured lender should be considered in the forbearance agreement: Credit SupportGuarantees, letters of credit and other modes of credit support such as “last out” participation in favor of the secured lender, which may have been refused at the loan inception, may be obtained from equity owners in a restructuring. Guarantees, letters of credit and certain other types of credit support are not affected by the automatic stay in the event of a bankruptcy proceeding (discussed below) because they represent third-party agreements between the secured lender and a non-borrower third party. Pre-Bankruptcy RemediesAll realistic pre-bankruptcy proceeding remedies should be considered by the secured lender, its counsel and advisors. This includes: Potential Actions of the BorrowerAll potential actions of the borrower should be anticipated and considered by the secured lender internally with its counsel and advisors, and then discussed and considered with the borrower. This includes: How to Work out Distressed Commercial Real Estate LoansWhen a lender is working with a borrower to get a problem commercial loan resolved the loan typically goes to “workout”. When a commercial loan is criticized internally, when it’s out of covenant, or when the borrower fails to pay or pays late the loan will often go the workout department of a bank unless the bank uses a special servicer or, at really small banks, the workout is handled by the commercial loan officer on the line. What Makes a Commercial Property Distressed?Commercial loans can end up in the workout department if they are in monetary default or in technical default. A commercial loan can be considered to be non-performing whether it’s in monetary or technical default. Technical Default vs. Monetary DefaultA monetary default occurs when the borrower is late on or does not make payments. Make no mistake the private lenders are much more flexible and creative in their workout strategies than traditional lenders are. I’ve seen private lenders: It’s probably important to distinguish between whole and portfolio loans and CMBS. CMBS (Commercial Mortgage Backed Securities) workouts, because they are sold as securities and governed by the REMIC structure are always handled by a special servicer. A commercial workout officer’s job is to collect what the bank is owed, in full, and make the bank “whole” on the loan. A good commercial workout officer (and I’ve had the pleasure of working with a number) knows about his assets, his borrowers, the local market and his vendors and uses all of those resources to collect. Depending on the size of the bank and the size of the loan a commercial workout officer may be very hands on or may direct the recovery and workout from behind a desk across the country. Loan workout arrangements need to be designed to help ensure that the institution maximizes its recovery potential. Further, renewed or restructured loans to borrowers who have the ability to repay their debts under reasonable modified terms will not be subject to adverse classification solely because the value of the underlying collateral has declined to an amount that is less than the loan balance. So in short, if the borrower and guarantors of a distressed commercial real estate loan can write the check and you’d rather extend the loan, restructure the loan or what-have-you, the fact that the property is worth less than is owed is not the determining factor for whether or not the bank has to action on a CRE loan in technical default (default for reasons other than non-payment). It also says that bank’s must do whatever will allow them to maximize capital recovery (essentially). Commercial Real Estate LawyerWhen you need legal help from a commercial real estate lawyer, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
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8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506 The post Commercial Loan Workout first appeared on Michael Anderson. via Michael Anderson https://www.ascentlawfirm.com/commercial-loan-workout/ Utah Code 30-3-11.3: Mandatory Educational Course For Divorcing Parents — Purpose — Curriculum — Exceptions1) The Judicial Council shall approve and implement a mandatory course for divorcing parents in all judicial districts. The mandatory course is designed to educate and sensitize divorcing parties to their children’s needs both during and after the divorce process. 6) The course may be provided through live instruction, video instruction, or an online provider. The online and video options must be formatted as interactive presentations that ensure active participation and learning by the parent. 11) The Administrative Office of the Courts shall adopt a program to evaluate the effectiveness of the mandatory educational course. Progress reports shall be provided if requested by the Judiciary Interim Committee. What States Require Parent Education Classes?Seventeen states require all divorcing parents, regardless if the divorce is uncontested, to attend some form of parent education class: Benefits of Parent Education• Higher self-esteem Utah Divorce LawyerIn any family law proceeding (except for inter-jurisdictional support orders) in which custody, access or child support is an issue, the parents must take part in the Parenting after Separation and Divorce program. Parties are not required to attend the program if: Improve Communication with Your Co-ParentPeaceful, consistent, and purposeful communication with your ex is essential to the success of co-parenting even though it may seem absolutely impossible. It all begins with your mindset. Think about communication with your ex as having the highest purpose, your child’s well-being. Before having contact with your ex, ask yourself how your actions will affect your child, and resolve to conduct yourself with dignity. Make your child the focal point of every discussion you have with your ex-partner. Remember that it isn’t always necessary to meet your ex in person speaking over the phone or exchanging texts or emails is fine for the majority of conversations. The goal is to establish conflict-free communication, so see which type of contact works best for you. • Keep conversations kid-focused: Never let a discussion with your ex-partner digress into a conversation about your needs or their needs; it should always be about your child’s needs only. Divorce AttorneyWhen you need a divorce attorney, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
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8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506 The post Utah Divorce Code 30-3-11.3 first appeared on Michael Anderson. via Michael Anderson https://www.ascentlawfirm.com/utah-divorce-code-30-3-11-3-2/ In Utah, the legal term for an eviction is an ‘unlawful detainer suit.’ Landlords wishing to evict a tenant must go through a formal process and obtain a court order before they can have a tenant evicted. Any attempts to evict a tenant without a court order are illegal. Actions like turning off utilities or changing the locks without a court order are known as “self-help” evictions, and they could result in a lawsuit being successfully filed against you. Generally, the eviction process in Utah takes just a matter of days or weeks from the time the landlord files the lawsuit to the time the tenant is out of the property. 11 to 28 days is common, provided that the process has been followed correctly. If the tenant contests the eviction, it could take longer. Utah is among the more landlord-friendly states. Courts in Utah normally award triple damages (minus attorney’s fees) to landlords in the event of an eviction especially for past-due rent payments. However, it can be very difficult to actually collect on a judgment from an evicted tenant if they have few assets in their name to collect against. Common reasons for evictions in Utah include non-payment of rent and material violation of lease terms. Landlords can also file nuisance evictions due to suspected criminal activity on the premises, loud parties, rowdy behavior, gambling, and the like. The landlord must sufficiently demonstrate to the courts that the tenant has been causing a nuisance. You cannot evict unless you have a court order authorizing you to take possession of the property. You can’t evict if you are illegally discriminating against a protected class. The federal Fair Housing Act prohibits housing discrimination on the basis of race, religion, sex, national origin, familial status, and pregnancy. In addition, Utah state law prohibits housing discrimination on the basis of color or source of income. Before you can file for an eviction, you must provide a formal written notice to the tenant to pay rent, correct the lease violation, or vacate the premises. If you’re evicting because of a violation of the lease, then you would present the tenant with a 3-Day Notice to Quit or Perform Covenant. Utah law allows you to present this notice in person to the tenant; to mail it to the tenant’s residence via registered or certified mail; or to leave the notice with a person of suitable age and discretion at the residence. If you cannot find anyone suitable at the residence, then you may post the notice in a conspicuous place on the property. Court officials will deliver a summons to the tenant alerting them of the lawsuit, as well as the time and location of the hearing. If the defendant wants to contest the eviction, they can state their case at the hearing. Utah law allows landlords to recover attorney’s fees if they win the lawsuit, provided that a provision stating such is in the lease signed by the tenant. Once you win your eviction hearing, you can apply for a writ of restitution from the court. The writ of restitution generally directs the tenant to vacate the premises within 3 days (though occasionally the timeline could be shorter—especially where vandalism or property damage is threatened or suspected). You can serve or post this notice on the property, but you must also provide a blank request for a hearing along with the notice to vacate. (You must provide proof of service to the court). If you receive an eviction notice, you should first try talking to your landlord. You may be able to come to an agreement without going to court. An eviction will cost both of you money (as well as time), and your landlord may be willing to stop the eviction if you agree to certain terms, such as paying rent you owe or stopping behavior that violates the lease. If you can’t come to an agreement that prevents you from moving out, perhaps you can agree on a certain date and time for when you will move out of the rental unit. If you are being evicted for not paying rent or violating the lease, then your eviction notice will state the reason for the eviction. If you comply with the eviction notice by either paying all the rent due and owing or correcting the lease violation, then, in Utah, the landlord must not proceed with the eviction (Utah Code Ann. § 78B-6-802). If you are not able to comply with the eviction notice within the time period stated in the notice, then you should talk to your landlord. For example, if you are being evicted for failure to pay rent, you will receive a three-day notice to remedy. If you can’t pay the rent in full within three days but you could by the end of the week, you should talk to your landlord to see if you can arrange to pay later. If your landlord agrees to terms that are different from the eviction notice, then you should get the agreement in writing. If you do not comply with the eviction notice and you and your landlord are not able to reach an agreement, then your landlord can file the eviction lawsuit with the court. You will receive a copy of the paperwork after your landlord files, and you will then be required to file an answer in response to your landlord’s complaint. An answer is a document that allows you to state the reasons why you should not be evicted. This is where you need to put any defences to the eviction, such as the landlord evicting you based on discrimination. In Utah, it is illegal for a landlord to discriminate against a tenant based on source of income, race, or religion, among other things. If your landlord is evicting you based on one of these protected classes, then you can use that as a defense against the eviction (see the federal Fair Housing Act and the Utah Fair Housing Act). For more ideas on possible defenses against an eviction, see Tenant Defenses to Evictions in Utah. You should also contact a lawyer to ensure you are using the best defenses available to you. If you do file an answer, then a hearing will be scheduled. You must attend this hearing. At the hearing, the judge will consider both sides of the argument and make a decision regarding the eviction. Even if you don’t have any defenses against the eviction, you should still attend the hearing and talk to the judge. Depending on your circumstances (such as if you have minor children living at home or health issues), the judge might not schedule the eviction right away. The judge might give you a little extra time to prepare and move out of the rental unit before ordering a sheriff to perform the eviction. Keep in mind, though, that you will still owe your landlord rent until you move out of the rental unit. The eviction process begins with serving an eviction notice. Along with the eviction notice, we will personally serve an eviction demand letter letting your tenants know that they must comply with the eviction notices or face an eviction lawsuit. Selecting the correct eviction notice is critical because it forms the foundation of the eviction. If the tenants have caused multiple violations, the landlord should serve multiple notices that apply to the situation. This provides the landlord with a stronger eviction case because it provides multiple grounds for eviction (we don’t have to prove all of the notices, we only have to prove one notice to justify the eviction). Failing to provide proper notice to a tenant can easily result in a judge dismissing your entire eviction. If the tenant fails to comply with the eviction notices, the landlord must file an eviction lawsuit with the court. Most evictions are filed the same day and completed 2-3 weeks later with the locks being changed. Once the eviction case is filed we work through the case until the sheriff or constable is able to change the locks. Lawsuits can be complex and there are multiple reasons you should hire an attorney. If not done properly, your case may be delayed or you may have to start the entire process over. Civil lawsuits in Utah’s District Court often take months or years before a judge renders a decision. If forced to wait through the regular timelines, landlords would often face default on their mortgage which may result in foreclosure. In order to avoid this result, and to provide landlords with relief from dead-beat tenants, Utah law provides landlords several significant opportunities to speed up the eviction process and have a judge review the case. If done properly, evictions can typically be resolved within days or weeks as opposed to months or years. Even though you may think that it will be easier to simply evict tenants without going through the necessary steps, it is illegal in all states to do a self-help eviction. You must follow the rules and regulations in your state. If you do have a situation that meets one of those categories and you have proof of it, then you can officially start the eviction process. To do that, the first thing you will have to do is provide the tenants with a formal eviction notice. In most states, this is the first part of the legal eviction procedure. You will need to look at your local laws to determine how many days’ notice you need to provide to the tenants. This formal eviction notice is usually a document that is fairly simple in nature. It will provide the tenants with an ultimatum that will require them to fix the issue in order to avoid the eviction. For example, if they are behind on rent, the notice would detail that you need to receive the full rental amount in a set amount of days in order to avoid eviction. When you are creating your eviction notice, these are a few things to keep in mind: • Include a specific date for them to either remedy the situation or vacate the property before you file for an eviction. Once you have sent the eviction notice, the ball is in their court. In some cases, this may be enough for them to take care of the issue or move out. In fact, there are many evictions that never have to move past this point because they are fixed by the tenant after the notice has been delivered. However, this is not always the case. If nothing has changed since the eviction notice was sent and the deadline provided to the tenants has come and gone, then your next step is to file the eviction with your local courts. If you do have to move forward with the eviction process, you will need to go to your local courthouse to file. Typically, you will have to pay a fee to file the eviction; the amount for the fee will depend on your local courthouse. Once you have filed, the clerk may or may not immediately give you a court date. You may have to wait for the court notice to be mailed to you directly. The court will also notify the tenant for you in the form of a summons. Evictions can be very stressful for all parties involved. Once you go through it for the first time as a landlord, you will want to take extra steps in order to prevent it from happening again in the future. While there is no way you can completely eliminate the possibility of eviction for one of your tenants, you can greatly reduce the probability of it happening by conducting background checks and credit checks for all applicants and thoroughly checking references. While it may cost you a little bit more in the beginning, it will save you a lot of time and money from pursuing an eviction later. A landlord can’t begin an eviction lawsuit without first legally terminating the tenancy. This means giving the tenant written notice, as specified in the state’s termination statute. If the tenant doesn’t move (or reform—for example, by paying the rent or finding a new home for the dog), you can then file a lawsuit to evict. (Technically, this is called an unlawful detainer, or UD, lawsuit.) State laws set out detailed requirements to end a tenancy. Different types of termination notices are required for different types of situations, and each state has its own procedures as to how termination notices and eviction papers must be written and delivered (“served”). An eviction notice is meant to inform tenants that a legal process of eviction is about to begin if the landlord grievance cannot be resolved. If the eviction is not based on a particular grievance, there is generally a much longer deadline to respond – up to 30-60 days (as opposed to 3-5 days for many issue-specific notices in some jurisdictions). If the issue is confronted and legal requirements are adhered to quickly and competently, a tenant may be able to delay the process for weeks or even months, or even prevent the eviction from happening altogether. In any jurisdiction, an eviction notice must provide all the information a tenant may need to understand the landlord’s reason for eviction, and all the information needed to respond within required time frames, in order to be valid. Legal eviction processes begin only if a tenant doesn’t use that information and respond appropriately before the deadline. Courts determine what kind of information is necessary and how it must be presented. In most states, a landlord can give an eviction notice for a tenant to move without giving any reason. The time allowed under state law for such a notice is usually 30 or 60 days, but it may be as short as 20 days or as long as 90 days. There may be different time periods if the tenant has lived in the unit for a long time, is a senior citizen or is disabled. The requirements also vary if the tenant is receiving federal housing assistance, or if the reason for the eviction is a condo conversion. Some states or cities require landlords to pay relocation expenses to senior citizens or disabled tenants or for units that are being converted to condos. Despite your best efforts to build a good relationship with your tenant, sometimes the relationship goes sour. Even if you’re a good landlord, you’ll probably have to go through the eviction process at least once in your career. Maybe a tenant didn’t pay the rent, maybe he’s disrupting the other tenants, or maybe she’s damaged your rental property. If you wish to evict a renter before the expiry of the Utah landlord-tenant lease agreement, you must have a cause. In Utah, you may legally evict a renter for any of the following reasons: Also, you cannot evict if you’re legally discriminating against a protected class. The protected classes are on the basis of pregnancy, familial status, national origin, sex, religion, and race. Again, Utah’s evictions law prohibits housing discrimination on the basis of source of income or color. Remember, the renter will also be given a chance to present their case during the eviction proceedings. As such, if you’re in violation of any of the lease terms, the case could be ruled against you. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
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8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
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The post Utah Eviction Process first appeared on Michael Anderson. via Michael Anderson https://www.ascentlawfirm.com/utah-eviction-process/ Brokers and dealers are required to follow specific procedures prior to publishing quotations of OTC equity securities or submitting quotations for publication in any interdealer quotation system. Rule 15c2-11 (17 CFR 240.15c2-11, under the Securities and Exchange Act of 1934) and FINRA Rule 6432 establish the rules, and Form 211 is the form the brokers and dealers must submit to the Financial Industry Regulatory Authority (FINRA) OTC Compliance Unit. Essentially, the rules and Form 211 require the brokers and dealers to obtain and review certain information relating to the issuer prior to publishing quotations for the issuer’s securities. For simplicity, “brokers and dealers” are referred to in this blog post as “publishers.” Rule 15c2-11The self-proclaimed purpose of Rule 15c2-11 is to “prevent fraudulent, deceptive, or manipulative acts or practices” among publishers in their publication of quotations of securities. The publisher must maintain in their records certain documents and information, some of which the publisher must believe to be “accurate in all material respects” (and the sources reliable) based on a “reasonable basis under the circumstances.” This certification applies to the requirement to maintain one of (1) a recent prospectus, (2) a recent offering circular, (3) the most recent annual report or annual statement and subsequent reports, (4) information published by the issuer since the beginning of the last fiscal year, or (5) specific information about the issuer which would be reasonably current on the day the quotation is submitted and reasonably available upon request. The documents and information required to be maintained but not requiring certification are (1) a record of the circumstances involved in the quotation’s publication, (2) a copy of any SEC trading suspension order, and (3) a copy or written record of any other material information. Publishers must retain the information for three years, the first two of which must be in an “easily accessible place.” There are specific types of publications of securities quotations exempted from the rule, including for (1) securities traded on a national securities exchange the same day as or the day after being published; (2) securities published solely on behalf of the customer (subject to detailed limitations); (3) either (i) publication with an unsolicited customer indication for a certain number of days in the prior 30 days or (i) publication without an unsolicited customer indication but which has been the subject of both bid and ask quotations at specified prices for a certain number of days in the prior 30 days; (4) municipal securities; and (5) NASDAQ securities (if not suspended, terminated, or prohibited). The SEC may also exempt publications as “not constituting a fraudulent, manipulative or deceptive practice.” FINRA Rule 6432The requirements under FINRA Rule 6432 are in addition to those of Rule 15c2-11. They include specific instructions for the timing of filing Form 211 and a requirement to file (1) one copy of all information required to be maintained under Rule 15c2-11, with some exceptions, (2) identification of the issuer and the type of security, (3) the factors used in determining the security’s price, and (4) a certification that no one will be accepting payment prohibited by FINRA Rule 5250. There are other requirements for quotations not including a priced entry, and all filings with FINRA must be signed by a signed by a principal of the publisher’s firm. Form 211Ultimately the publisher must fill out and send Form 211 and related documents to the FINRA OTC Compliance Unit. Form 211 is comprised of five parts: (1) Issuer and Security Information, (2) Required Issuer Information, (3) Supplemental Information, (4) Regulatory Filings, and (5) Certification. Part 1 (“Issuer and Security Information”) requires submission of certain information, including the name and contact information of the issuer type and amount of securities and any restrictions on the transfers of securities. If requesting to enter a bid or ask price, the publisher must provide a clear statement of the basis and factors for making the price determination. Part 2 (“Required Issuer Information”) requires the person to check one of five boxes and attach one copy of all required information. This corresponds to paragraphs (a)(1)-(5) and (g) of Rule 15c2-11. The five categories and their respective required filings are: • Recent offerings: A prospectus or offering circular; • Non-reporting & all other companies: Specific information about the issuer (16 specific items), which shall be reasonably current on the day the quotation is submitted and reasonably available upon request. Additional submissions include the issuer’s most recent balance sheet, profit and loss and retained earnings statement, equivalent financial information for the two prior fiscal years for the Issuer or any predecessor company, the documents that support the information provided in this form, and other information and submissions Part 3 (“Supplemental Information”) requests supplemental information, including the circumstances surrounding the submission, identify of persons involved, whether the issuer has been subject to SEC suspension recently, and any material information regarding the issue Part 4 (“Regulatory Filings”) requires submission of the company’s Central Index Key (CIK) number if the issuer files periodic reports with the SEC and other regulatory information if the issuer is an insurance company or files periodically with a federal banking agency or state supervisor and is a non-EDGAR company Part 5 (“Certification”) concludes the form and is where the firm’s employee signs and certifies that the firm has a reasonable basis for believing that the information submitted is “accurate in all material respects and that the sources of information are reliable”, among other certifications. Filing a Form 211 is not optional. Unless an exemption applies, brokers and dealers must comply with both Rule 15c2-11 and FINRA Rule 6432 in order to publish quotations of securities in an interdealer quotation system. Accordingly, brokers and dealers should consult a competent securities attorney to ensure compliance with the applicable rules. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506 The post Rule 15c2-11 Interdealer Quotation first appeared on Michael Anderson. via Michael Anderson https://www.ascentlawfirm.com/rule-15c2-11-interdealer-quotation/ Anyone who is considering a career in law has a number of choices to make – where to take the bar, what area of law to specialize in and whether to work as a government lawyer or in private practice. For trial lawyers, the most fundamental decision is which side of the courtroom you’re going to be sitting on. Both prosecutors and defense lawyers are the major players in the trial on criminal cases. Whereas a prosecutor tries to show that the defendant is guilty, however, the defense lawyer tries to prove his innocence. A prosecutor is responsible for prosecuting a person who is charged with a crime. In simple terms, she is responsible for gathering evidence about the crime, deciding whether there’s enough evidence to prove the case, then persuading the jury that the defendant is guilty on the basis of that evidence. A criminal defense lawyer does the exact opposite. He investigates the case on behalf of the defendant, advises the defendant on how to plead and, if necessary, represents the defendant at trial with a view to getting him acquitted. A prosecutor is a public officer. He represents the office of the district attorney, the elected official who is in charge of criminal prosecutions within the jurisdiction and is funded by public money. Federal prosecutors are employed by the Department of Justice. A defense lawyer, on the other hand, may be a private lawyer or a public lawyer. Generally, the court will appoint a public defender if the suspect cannot pay the fees for a private attorney. The major similarity between a defense lawyer and a prosecutor is how they got started in the legal profession. All lawyers have to complete a four-year undergraduate program followed by three years of law school to get a Juris Doctor degree. After graduating, a lawyer must pass the bar examination to get admitted to the state bar. Regardless of where you sit in the courtroom, you will have completed a minimum seven years of full-time study before you’re licensed to practice law. The median wage for all lawyers was $118,160 per year in 2016. Expressing a salary as a median means that half of the lawyers have an income above that amount, and half have income below that amount. Public criminal lawyers tend to be paid a lower salary than private lawyers since they’re funded by the government. However, the precise amount they earn depends on their job title and experience. Here’s a breakdown of salaries for defense lawyers and prosecutors at different stages of their careers: Criminal defense lawyer in a private firm A prosecutor only works on criminal cases. A defense lawyer has the option of working on criminal or civil cases; in rare cases, she may represent clients in both arenas. Generally, a civil action begins when a plaintiff files a petition in court against a defendant. The plaintiff is usually trying to show that the defendant did something wrong such as breach of contract, and win monetary damages as compensation. It’s a civil defense attorney’s job to represent a defendant in civil litigation at every stage of the case. Unlike with a criminal case, however, the defendant must hire his own civil defense lawyer. The government will not step in if the defendant cannot afford to go to court. A public defender investigator is a private investigator who assists public defender attorneys. State and county governments typically hire investigators to help gather and analyze evidence in criminal and civil trials. The federal government also hires public defender investigators. Some states sponsor trainee programs for aspiring investigators who wish to work in public service. The training uses a combination of classroom instruction and practical experience. Classes cover firearms, witness interviewing, and criminal investigation techniques. The application process for public defender investigator positions requires a formal exam covering these aspects Instead of taking on private clients, a public defense investigator works on cases given to public defenders. These are attorneys who represent clients who cannot afford private legal representation. It is the job of the investigator to work with the public defender. The investigator may get some direction from the public defender, but he is largely responsible for finding the evidence the defender needs. Unlike a private practice, the investigator and the attorney do not receive their compensation from the defendant. They are both paid by the government. Many public defender investigators have substantial law enforcement or private investigator experience. In Utah, most public defender investigators have 21 or more years of experience. In addition to their legal experience, most investigators have experience with court testimony. As prior official witnesses for a defense or prosecution, investigators are familiar with this aspect of a court proceeding. Public defender investigators know what types of witnesses are appropriate for certain cases. A public defender investigator looks for facts that the attorney can use in the defendant’s trial. The investigator may conduct interviews with witnesses, bystanders, and individuals who know the defendant. Background checks and undercover surveillance are common activities for an investigator. Beyond searching for and gathering evidence, an investigator will help the attorney organize it. A public defender investigator may help the attorney prepare legal documents, such as subpoenas. The investigator also must carefully document whatever evidence he finds, allowing an attorney to effectively use it in court. The U.S. Bureau of Labor Statistics states that the average annual salary for detectives and criminal investigators was $75,720, as of May 2011. Investigators working for local governments earned an average salary of $62,900. Those working for state governments earned slightly less, with an average salary of $59,390. Investigators working in the federal executive branch earned the most. The average annual salary for federal detectives and criminal investigators was $96,680. The role of a lawyer in the society is to listen to your problem mainly, give you legal advice and discuss your options. They will also take instructions on what direction you want to take and help you understand how the law applies to your case. The lawyer can even represent you if you go to court. • Follow Instructions: Your lawyer should be able to listen to you and the instructions about what legal problem you have and then carry out the instructions that are given. It is very important that you are very honest with your lawyer as their advice will mainly depend on the information that you give them. After listening to you, your lawyer should be able to give you the proper advice that you will need, and as much as sometimes it may be difficult for the lawyer to give you legal advice straight away, you will have to understand all that is at stake first. They have to do some extensive research and give you the advice that will be the right one to be able to pursue the right direction. Your lawyer must give you all the options that are available, and in most cases, it is advisable to take the advice your lawyer will give you because it is normally most likely it is always the best option. However, the final decision is always yours, whatever you will do will be your decision. If you do not understand what they have told you then you should tell them that you do not understand and that they should explain the situation properly until you know. While your lawyer must act on your instructions, it is also a legal procedure that they primarily follow your instructions even when they do not agree with your decision because that is what they are required to do. Your lawyer also has an ethical obligation not to mislead the court or waste the court’s time. • Avoid Conflict of Interest: A lawyer cannot work for you if they acted for the other person or have been involved in the past and they have confidential information about them that might negatively affect their interests. It can also be a problem if they are acting for the other person or people involved and they may not be able to act in the best interests of you both because that will be a conflict of interest. If your interests and that of your lawyer clash then there would be a problem because a case cannot go through. • Duty of care to client: A Lawyer should ensure that the interests of the client are not in any manner hurt by his act or omissions. He must also defend a person accused of a crime, regardless of his personal opinion as to the guilt of the accused and must not abuse or take advantage of the confidence reposed in him by the client. • No Collusion: This is duty of a Lawyer that he should not do collusion that is advocate should not do conspiracy with the opposite side. A Lawyer should not meet with opposition parties with aim of doing conspiracy. A Lawyer should not give any such advice knowingly that could effect negatively. A Lawyer should not accept gifts, fees from opposition party. Or should not disclose any week point of his client with the opposition. • Don’t disclose professional communication: It is another duty of a Lawyer that whatever talks and other documents are provided by the client to the advocate, the advocate should not show/provide those to the opposition party to create conspiracy. • No transaction with the property of the Client: It is the legal binding on the Lawyer that he cannot do any transaction with the disputed property. Thus he should not buy/sell the property, which is involved in a case. • Fees should be reasonable: It is the duty of the Lawyer that he should not charge arbitrary fees from his/her clients, that mean he should tack reasonable fees from his client. • No fraud with the client: It is the duty of Lawyer that, the money that the court gives in the name of the client must be provided to the client and under no conditions should be kept by the advocate. • Good behavior with the Client: The client should be treated nicely by the Lawyers. Lawyer should try best to get justice to the client. He should advice client properly and in a proper way. • Other Duties: There are many other duties of Lawyer towards client apart from the above mentioned duties. He should not use undue influence over his client. How to Choose the Right LawyerThe first step in the process of choosing the right lawyer, then, is the research phase. Ideally, you want to start with the names of several lawyers, and, as with the purchase of most other services, personal referrals are often the best place to start. Begin compiling your list by asking friends, neighbors, and business associates for recommendations. State bar associations are also good resources for finding lawyers who practice in the field in which you require assistance. Online resources can be another good source, and many such resources have the added benefit of offering consumer reviews, so you can see how other people have rated their interactions with a particular attorney. How Do You Know If Your Attorney Is Good?Once you’ve compiled a list of potential attorneys, you can begin the evaluation process. Most lawyers offer a free initial consultation, and, as an informed consumer, you should take full advantage of these. Be prepared with a written list of questions, and make notes during the consultation, so you can later compare the lawyers on your list. Important questions to ask during this initial consultation include the following: Area(s) of expertise: You want to make sure that the lawyer you hire has experience in the area of law in which you require assistance. There are many practice areas in the legal field, and most lawyers tend to handle cases in specific practice areas. Potential costs: Legal advice can become quite costly, so it’s important that you know how much your lawyer will charge you. During the initial consultation, a lawyer should be able to give you a ballpark estimate, based on the facts of your case. The legal team: Some lawyers work by themselves, while others have paralegals on their team or outsource some of the legal work to other lawyers. You want to make sure you know who will be handling your file, as this can have an impact on both the quality of the service you receive and the cost. Communication: How does the lawyer communicate with his or her clients? If you have a question, how should you be getting in touch with them? What is their response time like? While every lawyer will most likely be handling several cases at a time, your case is a priority for you, and you need to make sure the lawyer you hire recognizes this and communicates with you in a timely manner. Finally, in addition to getting answers to questions like these, you also want to make sure you and the attorney you retain are a good fit when it comes to personality. Ask yourself, do I feel at ease with this lawyer? Will I feel comfortable asking him or her questions and bringing up issues that concern me? When you’ve selected the attorney you think will be a good fit, it’s a good idea to call the organization in your state that handles attorney disciplinary matters to make sure the lawyer you’ve chosen has not been the subject of any disciplinary actions. In most states, this organization will be the state bar association, but it can vary, depending on your state. Once you’ve completed this assessment process, you should have the answers you need to help you choose the right lawyer for your particular situation. 84084 LawyerWhen you need a lawyer in 84084, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
What Is A Letter Of Memorandum? The post Best Attorney 84084 first appeared on Michael Anderson. via Michael Anderson https://www.ascentlawfirm.com/best-attorney-84084/ 30-3-11.2. Appointment of counsel for childIf, in any action before any court of this state involving the custody or support of a child, it shall appear in the best interests of the child to have a separate exposition of the issues and personal representation for the child, the court may appoint counsel to represent the child throughout the action, and the attorney’s fee for such representation may be taxed as a cost of the action. What is Minor’s Counsel?Minor’s Counsel is an attorney appointed by the court to represent a child or children. Minor’s Counsel only represents the child and does not represent the parents in any capacity. In most Utah child custody cases, minors are rarely allowed to testify in court or speak to the judge directly. Because of this fact, the court will appoint minor’s counsel to interview the child about their concerns and their custodial preference. Minor’s counsel is a neutral voice for the child, without compromising the child’s rights, emotional well-being, or forcing the child to side with one parent or the other. Their role is to consider what is the best interest of the child, while not being bound by emotions that often come with divorce, child abuse, neglect, and other difficult issues often associated with contested child custody or divorce cases Minor’s counsel only represents the child. If there is more than one child involved, separate counsel for each child may be appointed. The county might pay for the representation if the parents can’t afford to pay themselves but usually the court requires one or both parents to pay the fees. Once assigned, the attorney continues to represent the minor until the child reaches the age of 18. In some cases, the court may choose to end their appointment early. Minor’s counsel is a neutral voice for the child, without compromising the child’s rights, emotional well-being, or forcing the child to side with one parent or the other. In Utah, a private attorney may be appointed to represent a minor in Family Law cases involving child abuse, child neglect, drug related cases, high conflict divorces and other cases the court deems appropriate. Requests for appointment of minor’s counsel are usually made by court-appointed mediators or evaluators, either parent or even the court itself. Minor’s counsel only represents the child and not the parents. In some cases, where more than one child is involved, separate counsel for each child, may be appointed. The county may pay for the representation but usually the pay in Family Law cases is minimal or non-existent. Any information provided to the minor’s counsel by parents, mental health providers or other collateral sources, is subject to review by the court with the exception of privileged information. Once assigned, they continue to represent the minor until the child reaches majority or is substituted by other counsel. Occasionally, minor’s counsel may be removed by the court. Minor’s counsel acts as fact finders and their requests for action to the court are often heavily weighed. Their requests are based on the child’s best interests including the health, safety and welfare of the child. Minor’s counsel may gather information from interviews with the child and parents, therapists, doctors, school records, medical records, psychological evaluations and any other record that provides relevant information as to the child’s needs. In some cases, minor’s counsel may express the child’s wishes to the court. What does minor’s counsel do exactly?Minor’s counsel act as fact finders. They learn about the child’s best interests including the health, safety, and welfare of the child. They will gather information from interviews with the child, the parents, therapists, and doctors. They will also evaluate school and medical records, psychological evaluations, and any other record that provides relevant information pertaining to the child’s needs. Minor’s counsel is entrusted with rights in order to protect the child’s best interests Some of these rights are as follows: Why is Minor’s Counsel needed?In Utah, Minor’s Counsel must determine what is in the best interest of the child and determine what the minor’s preference is if the child is of sufficient age and capacity to reason so as to form an intelligent preference as to custody. Minor’s Counsel works to investigate the allegations and facts presented. Depending on the situation and case, the Court could also request Minor’s Counsel to look into specific issues relating to the child. In order to better inform Minor’s Counsel regarding the child, Minor’s Counsel is tasked with gathering information regarding the child and their best interests from various sources. As such, Minor’s Counsel has access to the child’s records, including medical and school records and has the right to interview any relevant person in the child’s life. Can I hire someone to represent my child?Unfortunately that is not how it works. The court must appoint an attorney to represent the child. A parent may make a request for minor’s counsel to be appointed to represent their child. Additionally, the parents can enter into a stipulation for Minor’s counsel to be appointed but the court will need to sign off on the stipulation to make it an order of appointment. Who Pays The Attorney Fees For Minor’s Counsel?The court will decide who pays Minor’s counsel fees when they appoint Minor’s counsel. In some cases, the court may require one parent to pay all the fees. In other cases, the fees might be split between both parents. However, if the court has found a parent to be indigent under the court’s financial guidelines, then the court can order the county to pay Minor’s counsel fees. Once Minor’s Counsel Is Appointed, What Is The Next Step?The court will notify our office once we have been appointed to represent the child/children. At this point our office will send each party a letter with an information packet and release forms allowing us to speak with doctors, school officials, etc. If the court has ordered the parties to pay Minor’s Counsel Fees, the retainer fee must be paid to our office prior to any work being done on the case. Once the retainer fee, information packets, and release forms are received, our office will begin our review and investigation of the case. We ask that any concerns a party have must be sent to us in writing. We will speak to the parents and interview various collaterals as needed depending on the circumstances of each case. One important aspect is our meeting with the minor. Our office will contact the parent to schedule an appointment with the minor to meet with his/her attorney. At this appointment, only the child will speak with the attorney. We will not be reporting back to either party or their counsel as to what the minor child has advised us of our the results of our investigations, our findings will be discussed and made known to all at the set court hearing. At every hearing where it pertains to custody, evaluation, visitation or other hearing directly related to the child, minor’s counsel has a right to be notified and present as well as be given the opportunity to be make statements or be heard by the court on behalf of the minor. Minor’s Counsel Rights and AccessMinor’s counsel may be given unhampered access to a child’s records as well as entrusted with other rights in order to protect the child’s best interests. Some of these rights are as follows: Along with all of these rights above, minor’s counsel has the right to make statements or requests openly or in writing to the court. This includes, monitoring advocates, parents, counselors, state workers and others involved with the child to ensure that they are not violating the child’s rights. In Utah, minor’s counsel carries a lot of weight with the courts. They are a neutral voice for the child, without compromising the child’s rights or emotional well-being and not forcing the child to side with one parent or the other. Their role is to consider what is in the child’s best interests, while not being bound by emotions that often come with divorce, child abuse, neglect and other difficult issues often associated with contested child custody or divorce cases. Minor’s counsel is a neutral voice for the child, without compromising the child’s rights, emotional well-being or forcing the child to side with one parent or the other. Their role is to consider what is in the best interest of the minor child, while not being bound by emotions that often come with divorce, child abuse, finances, neglect, and other difficult issues often associated with contested child custody or divorce (dissolution) cases. Minor’s counsel only represents the child. Minor’s counsel can be appointed to represent siblings, however when/if the siblings have different wishes then they each have a right to separate counsel. The Court has to listen to the child’s preference, right?Minor’s Counsel must determine what is in the best interest of the child based on the minor’s input. If Minor’s Counsel determines what the minor’s preference and the minor child is of sufficient age and capacity to reason so as to form an intelligent preference as to custody the court must consider the minor’s preference but is not required to make orders compliant with the minor’s preferences. Should I discuss the case with my child?It is crucial that you avoid discussing the case with your child. Litigation is difficult for adults to handle and even more stressful for children. You can simply tell your child the following: Utah Divorce AttorneysWhen you need to get a divorce or need help with child custody in Utah, please call Ascent Law LLC for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
South Jordan Utah Foreclosure Lawyer The post Utah Divorce Code 30-3-11.2 first appeared on Michael Anderson. via Michael Anderson https://www.ascentlawfirm.com/utah-divorce-code-30-3-11-2/ |
ABOUT USDivorce Lawyer in Orem, Utah. If you need divorce and bankruptcy lawyer, child custody, adoption or family law attorney who does child custody, father’s rights, divorces and family law that cares about you, your family, your case, and is aggressive, call 801-676-5506 now for a free consultation for divorce in Orem, Utah can be tough, so you need a smart divorce lawyer who can help you today. Call 801-676-5506 for the top divorce and bankruptcy attorney in Orem, Utah now. Archives
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