Terms Used In Utah Code > Title 57 > Chapter 29 > Part 2 - License and Disclosure Requirements

• Commission: means the Real Estate Commission created in Section 61-2f-103. See Utah Code 57-29-102
• Division: means the Division of Real Estate created in Section 61-2-201. See Utah Code 57-29-102
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Management agreement: means an agreement between a person and each owner of an undivided fractionalized long-term estate in a piece of real property under which the person agrees to manage the leasing or operations of the real property. See Utah Code 57-29-102
• Master lease: means an agreement under which a person is granted a leasehold interest in real property and may sublease all or a portion of the real property to one or more persons. See Utah Code 57-29-102
• Master lease tenant: means the lessee in a master lease. See Utah Code 57-29-102
• Person: means :Utah Code 68-3-12.5
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• real estate: means any right, title, estate, or interest in land, including all nonextracted minerals located in, on, or under the land, all buildings, fixtures and improvements on the land, and all water rights, rights-of-way, easements, rents, issues, profits, income, tenements, hereditaments, possessory rights, claims, including mining claims, privileges, and appurtenances belonging to, used, or enjoyed with the land or any part of the land. See Utah Code 57-1-1
• real property: includes :Utah Code 68-3-12.5
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Sponsor: means a person who is the original seller of an undivided fractionalized long-term estate. See Utah Code 57-29-102
• Undivided fractionalized long-term estate: means an ownership interest in real property by two or more persons that is:

  (i)	a tenancy in common; or

  (ii)	a fee estate. See Utah Code 57-29-102