Money judgment — Action seeking balance due on obligation.
At any time within 3 months after any sale under a deed of trust, as hereinbefore provided, a money judgment may be sought for the balance due upon the obligation for which such deed of trust was given as security, and in such action the plaintiff shall set forth in his complaint the entire amount of indebtedness which was secured by such deed of trust and the amount for which the same was sold and the fair market value at the date of sale, together with interest from such date of sale, costs of sale and attorney’s fees. Before rendering judgment the court shall find the fair market value of the real property sold at the time of sale. The court may not render judgment for more than the amount by which the entire amount of indebtedness due at the time of sale exceeds the fair market value at that time, with interest from date of sale, but in no event may the judgment exceed the difference between the amount for which such property was sold and the entire amount of the indebtedness secured by the deed of trust.
Notes of Decisions
Frontier Fed. Sav. & Loan Ass'n v. Douglass, 853 P.2d 553 (Idaho 1993).
· cites it 80× “) Idaho Code § 45-1512 permits a beneficiary under a deed of trust to seek a deficiency judgment after a trustee's sale under a deed of trust.”
Idaho First Bank v. Bridges, 426 P.3d 1278 (Idaho 2018).
· cites it 28× “I.C. § 45-1512. There was no genuine issue of material fact that IFB failed to bring its cause of action for deficiency until after the three-month window to do so had expired.”
Valley Bank v. Larson, 663 P.2d 653 (Idaho 1983).
· cites it 36× “Plaintiff respondent did not file an action against Dale Larson for a deficiency judgment within three months of the foreclosure sale as required by I.C. § 45-1512. In a letter dated January 14, 1980, respondent demanded payment from appellant on the $30,000 note, together with…”
First Sec. Bank of Idaho, N.A. v. Gaige, 765 P.2d 683 (Idaho 1988).
· cites it 15× “In defense of the action on the guaranties, Gaige asserted that the deed of trust anti-deficiency statute, I.C. § 45-1512, precluded First Security from bringing the action on the guaranties.”
Frazier v. Neilsen & Co., 769 P.2d 1111 (Idaho 1989).
· cites it 20× “Then, still reading in I.C. § 45-1512 come two concluding sentences which clearly evidence the legislative intent that there be just as much fair dealing in this post-sale procedure as is required in mortgage foreclosures and deficiency judgments.”
Curtis v. Firth, 850 P.2d 749 (Idaho 1993).
· cites it 4× “§ 45-1503 provides in pertinent part: If any obligation secured by a trust deed is breached, the beneficiary may not institute a judicial action against the grantor or his successor in interest unless: a) The trust deed has been foreclosed by advertisement and sale in the manner…”
Carter v. Derwinski, 758 F. Supp. 603 (D. Idaho 1991).
· cites it 38× “§ 2415 (a), applies to this action; (2) that Idaho Code § 45-1512 does not apply to an action based on the VA’s right to indemnity; (3) even if Section 45-1512 did apply, plaintiffs’ use of that statute in this action is improper because the statute should only be used as an…”
PHH Mortg. Servs. Corp. v. Perreira, 200 P.3d 1180 (Idaho 2009).
· cites it 4× “The district court rejected their request for an accounting, writing, “The issue of an accounting would only be relevant if the plaintiff were seeking a money judgment on a deficiency in accordance with I.C. § 45-1512, which is not the case.” The district court did not err in…”
Farber v. Howell, 721 P.2d 731 (Idaho Ct. App. 1986).
· cites it 13× “Idaho Code § 45-1512 provides as follows: At any time within 3 months after any sale under a deed of trust, as herein-before provided, a money judgment may be sought for the balance due upon the obligation for which such deed of trust was given as security, and in such action…”
Wilhelm v. Johnston, 30 P.3d 300 (Idaho Ct. App. 2001).
· cites it 7× “Idaho Code § 45-1512 provides: At any time within 3 months after any sale under a deed of trust, as hereinbefore provided, a money judgment may be sought for the balance due upon the obligation for which such deed of trust was given as security, and in such action the plaintiff…”
Evans v. Sawtooth Partners, 723 P.2d 925 (Idaho Ct. App. 1986).
· cites it 4× “We think the judge in this case understood that the statute allows recovery of a deficiency where the outstanding debt exceeds both the price obtained at the trustee’s sale and the fair market value of the property.”
AgStar Fin. Servs., ACA v. Gordon Paving Co., 391 P.3d 1287 (Idaho 2017).
· cites it 4× “2d at 685 . We declined to legislate from the bench and create a rule protecting the guarantor from the terms of his contractual obligation, stating: “While there may be arguments for extending anti-deficiency protection to guarantors, that action is for the legislature to do,…”
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