Chapter 3 - Deeds Of Trust - Wyoming Statutes

CHAPTER 3 - DEEDS OF TRUST

 

34-3-101. Form.

 

Adeed of trust to secure debts or indemnify sureties may be in the followingform, or to the same effect:

 

This deed, made the .... day ...., in the year of ...., between ....(the grantor) of the one part, and .... (the trustee) of the other part;witnesseth: That the said .... (the grantor) doth (or do) grant unto the said.... (the trustee) the following property (here describe it), in trust tosecure (here describe the debts to be secured or the sureties to beindemnified, and insert covenants or any other provisions the parties may agreeupon); witness the following signatures and seals (or signature and seal).

 

34-3-102. Trustee's sale; generally.

 

 

(a) The trustee in any such deed, except so far as may betherein otherwise provided, shall, whenever required by any creditor secured orany surety indemnified by the deed, or the personal representative of any suchcreditor or surety, after the debt due to such creditor, or for which suchsurety may be liable, shall have become payable, and default shall have beenmade in the payment thereof, or any part thereof, by the grantor, sell theproperty conveyed by the deed, or so much thereof as may be necessary, atpublic auction, for cash, having first given notice of such sale as hereinafterprescribed, and shall apply the proceeds of sale, first to the payment ofexpenses attending the execution of the trust, including a commission to thetrustee of five percent (5%) on first three hundred dollars ($300.00) and twopercent (2%) on the residue of the proceeds, and then, pro rata (or in theorder of priority, if any, prescribed by the deed) to the payment of the debtssecured and the indemnity of the sureties indemnified by the deed, and shallpay the surplus, if any, to the grantor, his heirs, personal representatives,or assigns. Every such notice of such sale shall show the followingparticulars:

 

(i) The time and place of sale;

 

(ii) The names of the parties to the deed under which it will bemade;

 

(iii) The date of the deed;

 

(iv) The office and book in which it is recorded;

 

(v) The quantity and description of the land or other property,or both, conveyed thereby;

 

(vi) The names of the persons secured or indemnified thereby;

 

(vii) The amount secured and the time when payable;

 

(viii) The amount of credits, if any, to which the same issubject;

 

(ix) The amount of the principal and interest claimed to be dueand unpaid, and for which the sale will be made.

 

34-3-103. Trustee's sale; notice.

 

Noticeof sale mentioned in W.S. 34-3-102 shall in every case be the same as thenotice provided in W.S. 34-4-104.

 

34-3-104. Trustee's sale; form of deed for auctioned realty.

 

Everydeed for real estate sold under a deed of trust may be made in the followingform, or to the same effect:

 

This deed, made the .... day of .... between A. B., trustee, of thefirst part, and C. D., of the second part, whereas the said trustee, by virtueof the authority vested in him by the deed of trust hereinafter mentioned (orby an order of the district court of the county of ....) made on the .... dayof .... (as the case may be), did sell as required by law, a certain tract (orlot, as the case may be), of land, situated in the county (or city, town or village,as the case may be), of .... conveyed by E. F. to the said A. B., trustee (orto G. H., trustee, as the case may be), by deed bearing date the .... day of...., and recorded (if it be recorded), in deed book ...., on page ...., in theoffice of the recorder of the county of ...., and bounded and described thereinas follows: (Here insert the description and quantity as set forth in the deedof trust and any other description deemed necessary); at which sale the said C.D. became the purchaser for the sum of .... dollars. Now, therefore, this deedwitnesseth that the said trustee hereby conveys and grants to the said C. D.the said real estate hereinbefore described, with all the right, title andinterest held by the said E. F. therein, to have and to hold the said realestate and premises unto the said C. D., his heirs and assigns forever.

 

Witness the following signature and seal.

 

----------------------- (Seal.)