The statutes identified in this section cover mortgages, foreclosures, mortgage practices and consumer protection matters relevant to the mortgage industry. This section does not include every Idaho law related to real estate transactions or those who do business with mortgage servicers, lenders or others involved in such transactions.
The Attorney General’s Office cannot provide private individuals with legal advice or representation. The office encourages persons with questions about their legal rights or obligations to speak to an experienced private attorney who is licensed to practice in Idaho.
In General (Title 45, Chapter 9, Idaho Code) This chapter defines “mortgage,” prohibits oral mortgages or deeds of trust and covers satisfaction of mortgages.
Mortgage of Real Property (Title 45, Chapter 10, Idaho Code) Any interest in real property which is capable of being transferred may be mortgaged and recorded.
Reconveyance (Title 45, Chapter 12, Idaho Code) The procedure for reconveying a trust deed is explained in chapter 12.
Idaho Residential Mortgage Practices Act (Title 26, Chapter 31, Idaho Code) The Act applies to mortgage brokers, mortgage lenders, mortgage loan originators and for-profit mortgage service providers. The Act requires such persons to obtain a license before operating in the state and incorporates relevant federal laws, including the Real Estate Settlement Procedures Act and the Home Ownership and Equity Protection Act. The Department of Finance has authority to bring legal actions against those who violate the Act or federal mortgage laws.
Idaho Mortgage Company Act (Title 26, Chapter 28, Idaho Code) The Act applies to non-exempt persons who (1) make or offer to make residential mortgage loans; (2) service or offer to service residential mortgage loans; or (3) buy or sell or offer to buy or sell, residential mortgage loans.
Trust Deeds (Title 45, Chapter 15, Idaho Code) This section governs Idaho’s non-judicial foreclosure process. Most Idaho foreclosures are completed through a notice process without any court action.
Foreclosure of Mortgages (Title 6, Chapter 1, Idaho Code) If the deed of trust prevents the lender from selling the property without a court order, or if the property exceeds 40 acres, the lender generally must proceed with a judicial foreclosure.
Forcible Entry and Unlawful Detainer (Title 6, Chapter 3, Idaho Code) Idaho Code § 6-310 outlines the procedure for bringing an unlawful detainer action against a tenant at sufferance pursuant to Idaho Code § 45-1506(11).
Quieting Title (Title 6, Chapter 4, Idaho Code) In Idaho, a person claiming an interest in real property may bring an action against another who claims an adverse interest to determine whose interest is valid.
Idaho Consumer Protection Act (Title 48, Chapter 6, Idaho Code) This act is intended to protect both consumers and businesses against deceptive acts and practices in the conduct of trade or commerce.
Idaho Consumer Foreclosure Protection Act (Title 45, Chapter 16, Idaho Code) If a homeowner’s home is subject to a foreclosure action and a person enters into a contract with the homeowner to transfer the homeowner’s “interest” in the home to the other person, that person must provide the homeowner with a specific printed notice. The notice must be printed in 12-point bold type on 8½" x 11" paper.