§ 57-1-39 — Definitions.

Utah § 57-1-39

• Jurisdiction: Utah
• Title 57: Real Estate
• Ch. 57-1: Conveyances

Text

As used in Sections 57-1-40 and 57-1-44:
(1) "Beneficiary" means the record owner of the beneficiary's interest under a trust deed, including successors in interest.
(2) "Deliver" or "delivered" means by:

(2)(a) overnight delivery by a reputable carrier;
(2)(b) United States certified mail or express mail;
(2)(c) hand delivery with receipt acknowledged in writing; or
(2)(d) facsimile or electronic mail belonging to the beneficiary, mortgagee, or servicer.
(3) "Mortgage" is as described in Section 57-1-14.
(4) "Mortgagee" means the record owner of the mortgagee's interest under a mortgage, including a successor in interest.
(5) "Satisfactory evidence of the full payment of the obligation secured by a trust deed or mortgage" means written information adequate, in the opinion of a title insurer or title agent, to establish that the obligation secured by the trust deed or mortgage has been paid in full.
(6) "Servicer" means a person or entity that collects loan payments on behalf of a beneficiary or mortgagee.
(7) "Title agent" means a title insurance producer licensed as an organization under Title 31A, Chapter 23a, Part 2, Producers and Consultants.
(8) "Title insurer" means a title insurer authorized to conduct business in the state under Title 31A, Chapter 23a, Part 2, Producers and Consultants.
(9) "Trust deed" is as defined in Subsection 57-1-19(3).

Legislative History

Amended by Chapter 250, 2006 General Session