Utah Code 57-8-48. One-action rule not applicable — Abandonment of enforcement proceedings

(1)	Subsection 78B-6-901(1) does not apply to an association of unit owners’ judicial or nonjudicial foreclosure of a unit under this part.

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Terms Used In Utah Code 57-8-48

association: means all of the unit owners:

(a)	acting as a group in accordance with the declaration and bylaws; or

(b)

organized as a legal entity in accordance with the declaration. See Utah Code 57-8-3

Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}

Judicial foreclosure: means a foreclosure of a unit:

(a)	for the nonpayment of an assessment;

(b)	in the manner provided by law for the foreclosure of a mortgage on real property; and

(c)

as provided in this chapter. See Utah Code 57-8-3

Nonjudicial foreclosure: means the sale of a unit:

(a)	for the nonpayment of an assessment;

(b)	in the same manner as the sale of trust property under Sections 57-1-19 through 57-1-34; and

(c)	as provided in this chapter. See Utah Code 57-8-3 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
(2)	An association of unit owners may abandon a judicial foreclosure, nonjudicial foreclosure, or sheriff’s sale and initiate a separate action or another judicial foreclosure, nonjudicial foreclosure, or sheriff’s sale if the initial judicial foreclosure, nonjudicial foreclosure, or sheriff’s sale is not complete.

Enacted by Chapter 355, 2011 General Session

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