As used in Sections 57-1-20 through 57-1-36:

(1)  “Beneficiary” means the person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or his successor in interest.

Terms Used In Utah Code 57-1-19

  • 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.
  • 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.
  • Person: means :Utah Code 68-3-12.5
  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • real property: includes :Utah Code 68-3-12.5
  • Trustee: A person or institution holding and administering property in trust.
  • Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
(2)  “Trustor” means the person conveying real property by a trust deed as security for the performance of an obligation.

(3)  “Trust deed” means a deed executed in conformity with Sections 57-1-20 through 57-1-36 and conveying real property to a trustee in trust to secure the performance of an obligation of the trustor or other person named in the deed to a beneficiary.

(4)  “Trustee” means a person to whom title to real property is conveyed by trust deed, or his successor in interest.

(5)  “Real property” has the same meaning as set forth in Section 57-1-1.

(6)  “Trust property” means the real property conveyed by the trust deed.

Amended by Chapter 155, 1988 General Session