Terms Used In Utah Code 57-8a-307

• Assessment: includes :
            (1)(b)(i) a common expense; and
            (1)(b)(ii) an amount assessed against a lot owner under Subsection 57-8a-405(7). See Utah Code 57-8a-102
• association: means a corporation or other legal entity, any member of which:
            (2)(a)(i) is an owner of a residential lot located within the jurisdiction of the association, as described in the governing documents; and
            (2)(a)(ii) by virtue of membership or ownership of a residential lot is obligated to pay:

                 (2)(a)(ii)(A) real property taxes;

                 (2)(a)(ii)(B) insurance premiums;

                 (2)(a)(ii)(C) maintenance costs; or

                 (2)(a)(ii)(D) for improvement of real property not owned by the member. See Utah Code 57-8a-102
• 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}
• Lien: A claim against real or personal property in satisfaction of a debt.
• Nonjudicial foreclosure: means the sale of a lot:
       (19)(a) for the nonpayment of an assessment;
       (19)(b) in the same manner as the sale of trust property under Sections 57-1-19 through 57-1-34; and
       (19)(c) as provided in Part 3, Collection of Assessments. See Utah Code 57-8a-102