(1)  Any agreement to purchase an interest in a development that violates Section 57-19-4 or 57-19-14 may, at the option of the purchaser, be voided and the purchaser’s entire consideration recovered together with interest at the legal rate, costs, and reasonable attorney fees.

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Terms Used In Utah Code 57-19-21

  • Development: includes :
(i) a single-site development; or
(ii) a multiple-site development. See Utah Code 57-19-2
  • Interest: includes a membership agreement, sale, lease, deed, license, or right-to-use agreement. See Utah Code 57-19-2
  • Purchaser: means a person who purchases an interest in a development. See Utah Code 57-19-2
    • (2)  No suit under this section may be brought more than two years after the later of:

    (a)  the day on which the agreement is signed; or

    (b)  the day on which the purchaser knew or reasonably should have known of the violation.

    Amended by Chapter 255, 2016 General Session

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