Board of Commissioners of Caddo County v. Dietrich

1 Citing case

  1. Hector, Inc. v. United Sav. Loan Ass'n

    741 P.2d 542 (Utah 1987)   Cited 15 times
    In Hector, a developer entered into an agreement with United Savings and Loan Association ("United") and executed a promissory note and a deed of trust in favor of United to secure a loan of $800,000 to finance the development of a subdivision.

    Farmers Co-operative Association v. Cole, 239 N.W.2d 808 (N.D. 1976). Under Utah law, an agreement to secure an obligation with real property must be in writing because it creates an interest in real property. Utah Code Ann. ยง 25-5-1 (1984); Jackson v. Dallin, 47 Utah 312, 314, 152 P. 341, 342 (1915). Therefore, evidence of a course of dealing or of industry usage and custom is not admissible to show that real property used to secure one obligation pursuant to a trust deed is also meant to secure another obligation.