Terms Used In Utah Code 57-8-48

• association: means all of the unit owners:
       (2)(a) acting as a group in accordance with the declaration and bylaws; or
       (2)(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}
• Judicial foreclosure: means a foreclosure of a unit:
       (22)(a) for the nonpayment of an assessment;
       (22)(b) in the manner provided by law for the foreclosure of a mortgage on real property; and
       (22)(c) as provided in this chapter. See Utah Code 57-8-3
• Nonjudicial foreclosure: means the sale of a unit:
       (30)(a) for the nonpayment of an assessment;
       (30)(b) in the same manner as the sale of trust property under Sections 57-1-19 through 57-1-34; and
       (30)(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