Utah Code 57-8-6.3. Fee for providing payoff information needed at closing
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(1) Unless specifically authorized in the declaration, bylaws, or rules, an association of unit owners may not charge a fee for providing association payoff information needed in connection with the closing of a unit owner‘s financing, refinancing, or sale of the owner’s unit.
Terms Used In Utah Code 57-8-6.3
- 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
- Declaration: means the instrument by which the property is submitted to the provisions of this act, as it from time to time may be lawfully amended. See Utah Code 57-8-3
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: means an individual, corporation, partnership, association, trustee, or other legal entity. 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
- Unit owner: means the person or persons owning a unit in fee simple and an undivided interest in the fee simple estate of the common areas and facilities in the percentage specified and established in the declaration or, in the case of a leasehold condominium project, the person or persons whose leasehold interest or interests in the condominium unit extend for the entire balance of the unexpired term or terms. See Utah Code 57-8-3
- Writing: includes :
(48)(a) printing;(48)(b) handwriting; and(48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5(2) An association of unit owners may not:(2)(a) require a fee described in Subsection(1) that is authorized in the declaration, bylaws, or rules to be paid before closing; or(2)(b) charge the fee if it exceeds $50.(3)(3)(a) An association of unit owners that fails to provide information described in Subsection(1) within five business days after the closing agent requests the information may not enforce a lien against that unit for money due to the association at closing.(3)(b) A request under Subsection(3)(a) is not effective unless the request:(3)(b)(i) is conveyed in writing to the primary contact person designated under Subsection57-8-13.1(3)(d) ;(3)(b)(ii) contains:(3)(b)(ii)(A) the name, telephone number, and address of the person making the request; and(3)(b)(ii)(B) the facsimile number or email address for delivery of the payoff information; and(3)(b)(iii) is accompanied by a written consent for the release of the payoff information:(3)(b)(iii)(A) identifying the person requesting the information as a person to whom the payoff information may be released; and(3)(b)(iii)(B) signed and dated by an owner of the unit for which the payoff information is requested.(4) This section applies to each association of unit owners, regardless of when the association of unit owners is formed.