Utah Code > Title 78B > Chapter 21 – Uniform Commercial Real Estate Receivership Act
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Utah Code > Title 78B > Chapter 21 - Uniform Commercial Real Estate Receivership Act
- Administrator: includes "executor" when the subject matter justifies the use. See Utah Code 68-3-12.5
- Affiliate: means :
(b) with respect to a person other than an individual: (i) another person that directly or indirectly controls, is controlled by, or is under common control with the person; (ii) an officer, director, manager, member, partner, employee, or trustee or other fiduciary of the person; or (iii) a companion of, or an individual occupying the residence of, an individual described in Subsection (1)(b)(i) or (ii). See Utah Code 78B-21-102 v2 - Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Authorized emergency vehicle: includes :
(a) fire department vehicles; (b) police vehicles; (c) ambulances; and (d) other publicly or privately owned vehicles as designated by the commissioner of the Department of Public Safety. See Utah Code 41-6a-102 - Autocycle: means the same as that term is defined in Section 53-3-102. See Utah Code 41-6a-102
- Bicycle: includes an electric assisted bicycle. See Utah Code 41-6a-102
- Bus: means a motor vehicle:
(i) designed for carrying more than 15 passengers and used for the transportation of persons; or (ii) designed and used for the transportation of persons for compensation. See Utah Code 41-6a-102 - Companion: means :
(a) the spouse of an individual; (b) the domestic partner of an individual; or (c) another individual in a civil union with an individual. See Utah Code 78B-21-102 v2 - Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Court: means a court of this state with jurisdiction over the action under Title 78A, Judiciary and Judicial Administration. See Utah Code 78B-21-102 v2
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Department: means the Department of Public Safety. See Utah Code 41-6a-102
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Executory contract: means a contract, including a lease, under which each party has an unperformed obligation and the failure of a party to complete performance would constitute a material breach. See Utah Code 78B-21-102 v2
- Farm tractor: means a motor vehicle designed and used primarily as a farm implement, for drawing plows, mowing machines, and other implements of husbandry. See Utah Code 41-6a-102
- Fiduciary: A trustee, executor, or administrator.
- 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
- Golf cart: means a device that:
(i) is designed for transportation by players on a golf course; (ii) has not less than three wheels in contact with the ground; (iii) has an unladen weight of less than 1,800 pounds; (iv) is designed to operate at low speeds; and (v) is designed to carry not more than six persons including the driver. See Utah Code 41-6a-102 - Governmental unit: means an office, department, division, bureau, board, commission, or other agency of this state or a subdivision of this state. See Utah Code 78B-21-102 v2
- Highway: means the entire width between property lines of every way or place of any nature when any part of it is open to the use of the public as a matter of right for vehicular travel. See Utah Code 41-6a-102
- Highway authority: means the same as that term is defined in Section 72-1-102. See Utah Code 41-6a-102
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Intersection: means the area embraced within the prolongation or connection of the lateral curb lines, or, if none, then the lateral boundary lines of the roadways of two or more highways that join one another. See Utah Code 41-6a-102
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lane filtering: means , when operating a motorcycle other than an autocycle, the act of overtaking and passing another vehicle that is stopped in the same direction of travel in the same lane. See Utah Code 41-6a-102
- Law enforcement agency: means the same as that term is as defined in Section 53-1-102. See Utah Code 41-6a-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
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Lien: means an interest in property that secures payment or performance of an obligation. See Utah Code 78B-21-102 v2
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Low-speed vehicle: means a four wheeled electric motor vehicle that:
(i) is designed to be operated at speeds of not more than 25 miles per hour; and (ii) has a capacity of not more than six passengers, including a conventional driver or fallback-ready user if on board the vehicle, as those terms are defined in Section 41-26-102. See Utah Code 41-6a-102 - Mobile home: means :
(a) a trailer or semitrailer that is: (i) designed, constructed, and equipped as a dwelling place, living abode, or sleeping place either permanently or temporarily; and (ii) equipped for use as a conveyance on streets and highways; or (b) a trailer or a semitrailer whose chassis and exterior shell is designed and constructed for use as a mobile home, as defined in Subsection (39)(a), but that is instead used permanently or temporarily for: (i) the advertising, sale, display, or promotion of merchandise or services; or (ii) any other commercial purpose except the transportation of property for hire or the transportation of property for distribution by a private carrier. See Utah Code 41-6a-102 - Mortgage: means a record, however denominated, that creates or provides for a consensual lien on real property or rents, even if the mortgage also creates or provides for a lien on personal property. See Utah Code 78B-21-102 v2
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: means a person entitled to enforce an obligation secured by a mortgage. See Utah Code 78B-21-102 v2
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: means a person that grants a mortgage or a successor in ownership of the real property described in the mortgage. See Utah Code 78B-21-102 v2
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Motor vehicle: means a vehicle that is self-propelled and a vehicle that is propelled by electric power obtained from overhead trolley wires, but not operated upon rails. See Utah Code 41-6a-102
- Motor-driven cycle: means a motorcycle, moped, and a motorized bicycle having:
(i) an engine with less than 150 cubic centimeters displacement; or (ii) a motor that produces not more than five horsepower. See Utah Code 41-6a-102 - Motorcycle: means :
(a) a motor vehicle, other than a tractor, having a seat or saddle for the use of the rider and designed to travel with not more than three wheels in contact with the ground; or (b) an autocycle. See Utah Code 41-6a-102 - Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Off-highway vehicle: means the same as that term is defined under Section 41-22-2. See Utah Code 41-6a-102
- Operate: means the same as that term is defined in Section 41-1a-102. See Utah Code 41-6a-102
- Operator: means :
(a) a human driver, as defined in Section 41-26-102. See Utah Code 41-6a-102 - Owner: means the person for whose property a receiver is appointed. See Utah Code 78B-21-102 v2
- parking: means the standing of a vehicle, whether the vehicle is occupied or not. See Utah Code 41-6a-102
- Peace officer: means a peace officer authorized under Title 53, Chapter 13, Peace Officer Classifications, to direct or regulate traffic or to make arrests for violations of traffic laws. See Utah Code 41-6a-102
- Person: means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. See Utah Code 78B-21-102 v2
- Person: means a natural person, firm, copartnership, association, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, governmental agency, public corporation, or any other legal or commercial entity. See Utah Code 41-6a-102
- Personal property: includes :Utah Code 68-3-12.5
- Personal property: All property that is not real property.
- Pole trailer: means a vehicle without motive power:
(a) designed to be drawn by another vehicle and attached to the towing vehicle by means of a reach, or pole, or by being boomed or otherwise secured to the towing vehicle; and (b) that is ordinarily used for transporting long or irregular shaped loads including poles, pipes, or structural members generally capable of sustaining themselves as beams between the supporting connections. See Utah Code 41-6a-102 - Proceeds: means the following property:
(a) whatever is acquired on the sale, lease, license, exchange, or other disposition of receivership property; (b) whatever is collected on, or distributed on account of, receivership property; (c) rights arising out of receivership property; (d) to the extent of the value of receivership property, claims arising out of the loss, nonconformity, or interference with the use of, defects or infringement of rights in, or damage to the property; or (e) to the extent of the value of receivership property and to the extent payable to the owner or mortgagee, insurance payable by reason of the loss or nonconformity of, defects or infringement of rights in, or damage to the property. See Utah Code 78B-21-102 v2 - Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
- Property: means all of a person's right, title, and interest, both legal and equitable, in real and personal property, tangible and intangible, wherever located and however acquired. See Utah Code 78B-21-102 v2
- 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.
- Receiver: means a person appointed by the court as the court's agent, and subject to the court's direction, to take possession of, manage, and, if authorized by this chapter or court order, transfer, sell, lease, license, exchange, collect, or otherwise dispose of receivership property. See Utah Code 78B-21-102 v2
- Receivership: means a proceeding in which a receiver is appointed. See Utah Code 78B-21-102 v2
- Receivership property: means the property of an owner that is described in the order appointing a receiver or a subsequent order. See Utah Code 78B-21-102 v2
- Record: means , when used as a noun, information that is inscribed on a tangible medium or that is stored on an electronic or other medium and is retrievable in perceivable form. See Utah Code 78B-21-102 v2
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Rents: means :
(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 a mortgagor 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 a mortgagor for payment or reimbursement of expenses incurred in owning, operating, and maintaining real property or constructing or installing improvements on real property; or (f) other sums payable under an agreement relating to the real property of another person which constitute rents under law of the state other than this chapter. See Utah Code 78B-21-102 v2 - Road: includes :Utah Code 68-3-12.5
- Roadway: means that portion of highway improved, designed, or ordinarily used for vehicular travel. See Utah Code 41-6a-102
- Secured obligation: means an obligation the payment or performance of which is secured by a security agreement. See Utah Code 78B-21-102 v2
- Security agreement: means an agreement that creates or provides for a lien. See Utah Code 78B-21-102 v2
- Semitrailer: means a vehicle with or without motive power:
(i) designed for carrying persons or property and for being drawn by a motor vehicle; and (ii) constructed so that some part of its weight and that of its load rests on or is carried by another vehicle. See Utah Code 41-6a-102 - standing: means the temporary halting of a vehicle, whether occupied or not, for the purpose of and while actually engaged in receiving or discharging passengers. See Utah Code 41-6a-102
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- Statute: A law passed by a legislature.
- street-legal ATV: means an all-terrain type I vehicle, all-terrain type II vehicle, or all-terrain type III vehicle, that is modified to meet the requirements of Section 41-6a-1509 to operate on highways in the state in accordance with Section 41-6a-1509. See Utah Code 41-6a-102
- Subpoena: A command to a witness to appear and give testimony.
- Tow truck motor carrier: means the same as that term is defined in Section 72-9-102. See Utah Code 41-6a-102
- Tow truck operator: means the same as that term is defined in Section 72-9-102. See Utah Code 41-6a-102
- Traffic: means pedestrians, ridden or herded animals, vehicles, and other conveyances either singly or together while using any highway for the purpose of travel. See Utah Code 41-6a-102
- Trailer: means a vehicle with or without motive power designed for carrying persons or property and for being drawn by a motor vehicle and constructed so that no part of its weight rests upon the towing vehicle. See Utah Code 41-6a-102
- Truck: means a motor vehicle designed, used, or maintained primarily for the transportation of property. See Utah Code 41-6a-102
- Trustee: A person or institution holding and administering property in trust.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
- United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
- Utah Code: means the 1953 recodification of the Utah Code, as amended, unless the text expressly references a portion of the 1953 recodification of the Utah Code as it existed:Utah Code 68-3-12.5
- Vehicle: means a device in, on, or by which a person or property is or may be transported or drawn on a highway, except a mobile carrier, as defined in Section 41-6a-1120, or a device used exclusively on stationary rails or tracks. See Utah Code 41-6a-102
- Vessel: when used with reference to shipping, includes a steamboat, canal boat, and every structure adapted to be navigated from place to place. See Utah Code 68-3-12.5