Utah Code 57-8-6.1. Information required before sale to independent third party

(1)

Before the sale of any unit under the jurisdiction of an association of unit owners to an independent third party, the grantor shall provide to the independent third party:

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Terms Used In Utah Code 57-8-6.1

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

Grantor: The person who establishes a trust and places property into it.

Independent third party: means a person that:

(a)	is not related to the unit owner;

(b)	shares no pecuniary interests with the unit owner; and

(c)

purchases the unit in good faith and without the intent to defraud a current or future lienholder. See Utah Code 57-8-3

Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

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

(a)

a copy of the association of unit owners’ recorded governing documents; and

(b)	a link or other access point to the department’s educational materials described in Subsection 57-8-13.1(6).

(2)	The grantor shall provide the information described in Subsection (1) before closing.

(3)	The association of unit owners shall, upon request by the grantor, provide to the grantor the information described in Subsection (1).

(4)	This section applies to each association of unit owners, regardless of when the association of unit owners is formed.

Enacted by Chapter 75, 2020 General Session

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