§ 34-4-102 — Foreclosure by advertisement

Wyoming § 34-4-102

• Jurisdiction: Wyoming
• Title 34: Property, Conveyances and Security Transactions
• Ch. 4: FORECLOSURE OF MORTGAGES AND POWER OF SALE

Text

(a) Every mortgage of real estate, containing therein a
power of sale upon default being made in any condition thereof,
may be foreclosed by advertisement within ten (10) years after
the maturing of such mortgage or the debt secured thereby, or
after the recording thereof, in the cases and in the manner
hereinafter specified.
(b) The time within which such proceeding may be commenced
under the power of sale shall begin to run:
(i) As to any mortgage executed after May 21, 1945,
from the date of such mortgage, unless the maturity of the debt
or obligation secured by such mortgage be clearly stated in or
is otherwise readily ascertainable from the provisions of such
mortgage;
(ii) (A) As to any mortgage executed prior to
May 21, 1945, at the latest of the following dates:
(I) The tenth anniversary of the maturity
of the debt or obligation secured by such mortgage if clearly
stated in or otherwise readily ascertainable from the provisions
of the mortgage;
(II) The tenth anniversary of the recording
of the mortgage if no such maturity date is clearly stated in or
readily ascertainable from the provisions of the mortgage;
(III) The stated, renewed, or extended
maturity date recorded on or before December 31, 1971, in the
manner provided in subdivision (B)(II) of this paragraph.
(B) The owner and holder of any debt or
obligation secured by a mortgage executed prior to May 21, 1945,
the maturity date of which either:
(I) Is not clearly stated or otherwise
readily ascertainable; or
(II) Has been renewed or extended by
agreement, payment, or other act of the debtor, may, on or
before December 31, 1971, record in the office of the county
clerk in the county in which such real estate is located either:
(1) An agreement signed and
acknowledged by the debtor as a conveyance of real estate,
stating the agreed, renewed or extended maturity date of such
debt or obligation; or
(2) An affidavit of the owner and
holder of such debt or obligation, stating such maturity date
and the date, form or manner of the agreement, payment or other
act of the debtor fixing such date.
(c) No mortgage in which the maturity of the debt or
obligation is not clearly stated or otherwise readily
ascertainable, which was recorded on or before May 21, 1945, and
for which no stated, renewed or extended maturity date is
recorded on or before December 31, 1971, may be foreclosed by
advertisement after December 31, 1971; and no such mortgage
recorded after May 21, 1945, may be foreclosed by advertisement
commenced more than ten (10) years after the date of such
recording.