Foreclosures and Restructuring

Most foreclosures in Utah are completed out of court using a non-judicial power of sale. A non-judicial foreclosure is usually quicker and less expensive than foreclosing through the courts (judicial foreclosure).  Occasionally, however, there are reasons for a lender to choose to foreclose judicially. Non-judicial and judicial foreclosures involve very different processes.

The real estate attorneys at Kirton McConkie have represented lenders and borrowers in both non-judicial and judicial foreclosures as well as in claims for deficiencies after foreclosure. Experience with hundreds of foreclosures has given our attorneys a thorough understanding of the procedural steps and potential pitfalls, allowing us to help develop strategies in the best interests of our clients. 

We also assist lenders and borrowers with loan workouts and restructures and with the difficult negotiations and title issues often arising in the foreclosure context.  

For commercial borrowers, we provide assistance with: 

  • Debt-structure analysis
  • Negotiations for loan restructure and new terms
  • Document preparation
  • Debt reorganization
  • Turn around planning
  • Workout negotiation and loan restructurings
  • Legal defenses and alternatives to foreclosure 

For financial institutions and asset-based lenders, we provide assistance with and representation for: 

  • Bankruptcy and insolvency situations
  • Creditors’ rights and enforcement
  • Workout negotiation and loan restructurings
  • Receiverships
  • Real property foreclosures
  • Title insurance claims