2005 Idaho Code - 45-1505 — FORECLOSURE OF TRUST DEED, WHEN

                                  TITLE  45
                         LIENS, MORTGAGES AND PLEDGES
                                  CHAPTER 15
                                 TRUST DEEDS
    45-1505.  FORECLOSURE OF TRUST DEED, WHEN. The trustee may foreclose a
trust deed by advertisement and sale under this act if:
    (1)  The trust deed, any assignments of the trust deed by the trustee or
the beneficiary and any appointment of a successor trustee are recorded in
mortgage records in the counties in which the property described in the deed
is situated; and
    (2)  There is a default by the grantor or other person owing an obligation
the performance of which is secured by the trust deed or by their successors
in interest with respect to any provision in the deed which authorizes sale in
the event of default of such provision; and
    (3)  The trustee or beneficiary shall have (a) filed for record in the
office of the recorder in each county wherein the trust property, or some part
or parcel, is situated, a notice of default identifying the deed of trust by
stating the name or names of the trustor or trustors and giving the book and
page where the same is recorded, or a description of the trust property, and
containing a statement that a breach of the obligation for which the transfer
in trust is security has occurred, and setting forth the nature of such breach
and his election to sell or cause to be sold such property to satisfy such
obligation; and (b) mailed a copy of such notice by registered or certified
mail, return receipt requested, to any person requesting such notice of record
as provided in section 45-1511, Idaho Code. Service by mail in accordance with
this subsection (3) shall be deemed effective at the time of mailing.
    (4)  No action, suit or proceeding has been instituted to recover the debt
then remaining secured by the trust deed, or any part thereof, or if such
action or proceeding has been instituted, the action or proceeding has been
dismissed.