Utah Code 57-26-119. Application to existing relationships
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(1) | Except as otherwise provided in this section, this chapter governs the enforcement of an assignment of rents and the perfection and priority of a security interest in rents, even if the document creating the assignment was signed and delivered before May 12, 2009. |
(a) | sums payable for the right to possess or occupy, or for the actual possession or occupation of, real property of another person; |
(b) | sums payable to an assignor under a policy of rental interruption insurance covering real property; |
(c) | claims arising out of a default in the payment of sums payable for the right to possess or occupy real property of another person; |
(d) | sums payable to terminate an agreement to possess or occupy real property of another person; |
(e) | sums payable to an assignor for payment or reimbursement of expenses incurred in owning, operating and maintaining, or constructing or installing improvements on, real property; or |
(f) | any other sums payable under an agreement relating to the real property of another person that constitute rents under law of this state other than this chapter. See Utah Code 57-26-102 |
(2) | This chapter does not affect an action or proceeding commenced before May 12, 2009. |
(3) | Subsection 57-26-104(1) of this chapter does not apply to any security instrument signed and delivered before May 12, 2009. |
Enacted by Chapter 139, 2009 General Session