“Beneficiary” means the record owner of the beneficiary‘s interest under a trust deed, including successors in interest.
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Terms Used In Utah Code 57-1-39
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Deed: The legal instrument used to transfer title in real property from one person to another.
Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Mortgagee: The person to whom property is mortgaged and who has loaned the money.
Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
“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 2.
(8)
“Title insurer” means a title insurer authorized to conduct business in the state under 2.
(9)
“Trust deed” is as defined in Subsection 57-1-19(3).
