Utah Code 57-8-50. Action to recover unpaid assessment
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Utah Code 57-8-50
- Assessment: means any charge imposed by the association, including:
(a) common expenses on or against a unit owner pursuant to the provisions of the declaration, bylaws, or this chapter; and (b) an amount that an association of unit owners assesses to a unit owner under Subsection 57-8-43(9)(g). See Utah Code 57-8-3 - 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- 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
An association of unit owners need not pursue a judicial foreclosure or nonjudicial foreclosure to collect an unpaid assessment but may file an action to recover a money judgment for the unpaid assessment without waiving the lien under Section 57-8-44.Enacted by Chapter 355, 2011 General Session
- association: means all of the unit owners: