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Pioneer Builders Company v. KDA Corporation, 2018 UT App 206 (Nov. 1, 2018)

Nov 1, 2018

At issue in this appeal was whether a broad provision that terminated and extinguished the rights of a subordinate trust deed holder included a waiver of the statutory right of redemption. In reversing the district court, the court of appeals held that, because the right of redemption was statutorily guaranteed, the broad language of the provision was not sufficient to clearly and unmistakably wave this statutory right because it did not mention redemption rights nor did it refer to the statutory provision.