§ 32-10.1-01 — Definitions

North Dakota § 32-10.1-01

• Jurisdiction: North Dakota
• Title 32: Judicial Remedies
• Ch. 32-10.1: Uniform Commercial Real Estate Receivership Act

Text

As used in this chapter:
1. "Affiliate" means:
a. With respect to an individual:
(1) A companion of the individual;
(2) A lineal ancestor or descendant, whether by blood or adoption, of:
(a) The individual; or
(b) A companion of the individual;
(3) A companion of an ancestor or descendant described in paragraph 2;
(4) A sibling, aunt, uncle, great aunt, great uncle, first cousin, niece, nephew,
grandniece, or grandnephew of the individual, whether related by the whole
or the half blood or adoption, or a companion of any of those individuals; or
(5) Any other individual occupying the residence of the individual; and
b. With respect to a person other than an individual:
(1) Another person that directly or indirectly controls, is controlled by, or is under
common control with the person;
(2) An officer, director, manager, member, partner, employee, or trustee or other
fiduciary of the person; or
(3) A companion of, or an individual occupying the residence of, an individual
described in paragraph 1 or 2.
2. "Companion" means:
a. The spouse of an individual;
b. The domestic partner of an individual; or
c. Another individual in a civil union with an individual.
3. "Court" means the district court.
4. "Executory contract" means a contract under which each party has an unperformed
obligation and the failure of a party to complete performance would constitute a
material breach. The term includes a lease.
5. "Governmental unit" means an office, department, division, bureau, board,
commission, or other agency of this state or a subdivision of this state.
6. "Lien" means an interest in property which secures payment or performance of an
obligation.
7. "Mortgage" means a record, however denominated, that creates or provides for a
consensual lien on real property or rents, even if it also creates or provides for a lien
on personal property.
8. "Mortgagee" means a person entitled to enforce an obligation secured by a mortgage.
9. "Mortgagor" means a person that grants a mortgage or a successor in ownership of
the real property described in the mortgage.
10. "Owner" means the person for whose property a receiver is appointed.
11. "Person" means an individual, estate, business or nonprofit entity, public corporation,
government or governmental subdivision, agency, or instrumentality, or other legal
entity.
12. "Proceeds" means:
a. Whatever is acquired on the sale, lease, license, exchange, or other disposition
of receivership property;
b. Whatever is collected on, or distributed on account of, receivership property;
c. Rights arising out of receivership property;
d. To the extent of the value of receivership property, claims arising out of the loss,
nonconformity, or interference with the use of, defects or infringement of rights in,
or damage to the property; or
e. To the extent of the value of receivership property and to the extent payable to
the owner or mortgagee, insurance payable by reason of the loss or
nonconformity of, defects or infringement of rights in, or damage to the property.

13. "Property" means all of a person's right, title, and interest, both legal and equitable, in
real and personal property, tangible and intangible, wherever located and however
acquired. The term includes proceeds, products, offspring, rents, or profits of or from
the property.
14. "Receiver" means a person appointed by the court as the court's agent, and subject to
the court's direction, to take possession of, manage, and, if authorized by this chapter
or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of
receivership property.
15. "Receivership" means a proceeding in which a receiver is appointed.
16. "Receivership property" means the property of an owner which is described in the
order appointing a receiver or a subsequent order. The term includes any proceeds,
products, offspring, rents, or profits of or from the property.
17. "Record" means information inscribed on a tangible medium or stored on an electronic
or other medium and retrievable in perceivable form.
18. "Rents" means:
a. Sums payable for the right to possess or occupy, or for the actual possession or
occupation of, real property of another person;
b. Sums payable to a mortgagor under a policy of rental-interruption insurance
covering real property;
c. Claims arising out of a default in the payment of sums payable for the right to
possess or occupy real property of another person;
d. Sums payable to terminate an agreement to possess or occupy real property of
another person;
e. Sums payable to a mortgagor for payment or reimbursement of expenses
incurred in owning, operating, and maintaining real property or constructing or
installing improvements on real property; or
f. Other sums payable under an agreement relating to the real property of another
person which constitute rent under any other provision of law.
19. "Secured obligation" means an obligation the payment or performance of which is
secured by a security agreement.
20. "Security agreement" means an agreement that creates or provides for a lien.
21. "Sign" means, with present intent to authenticate or adopt a record:
a. To execute or adopt a tangible symbol; or
b. To attach to or logically associate with the record an electronic sound, symbol, or
process.
22. "State" means a state of the United States, the District of Columbia, Puerto Rico, the
United States Virgin Islands, or any territory or insular possession subject to the
jurisdiction of the United States.