A deed, lease, mortgage, or other instrument may legally describe a unit by its identifying number or symbol as designated in the declaration or as shown on the condominium plat.
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Terms Used In Utah Code 57-8-14
Condominium: means the ownership of a single unit in a multiunit project together with an undivided interest in common in the common areas and facilities of the property. See Utah Code 57-8-3
Declaration: means the instrument by which the property is submitted to the provisions of this act, as it from time to time may be lawfully amended. See Utah Code 57-8-3
Deed: The legal instrument used to transfer title in real property from one person to another.
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Unit: includes one or more rooms or spaces located in one or more floors or a portion of a floor in a building. See Utah Code 57-8-3
Unit owner: means the person or persons owning a unit in fee simple and an undivided interest in the fee simple estate of the common areas and facilities in the percentage specified and established in the declaration or, in the case of a leasehold condominium project, the person or persons whose leasehold interest or interests in the condominium unit extend for the entire balance of the unexpired term or terms. See Utah Code 57-8-3
(2)
Each description under Subsection (1) shall be considered:
(a)
to be good and sufficient for all purposes; and
(b)
to convey, transfer, encumber or otherwise affect the unit owner‘s corresponding percentage of ownership in the common or community areas and facilities even though the percentage of ownership is not expressly mentioned or described.
