As used in Sections 57-1-40 and 57-1-44:

(1) “Beneficiary” means the record owner of the beneficiary‘s interest under a trust deed, including successors in interest.
contract signature

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Terms Used In Utah Code 57-1-39

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • 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.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • 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.
  • Person: means :
         (24)(a) an individual;
         (24)(b) an association;
         (24)(c) an institution;
         (24)(d) a corporation;
         (24)(e) a company;
         (24)(f) a trust;
         (24)(g) a limited liability company;
         (24)(h) a partnership;
         (24)(i) a political subdivision;
         (24)(j) a government office, department, division, bureau, or other body of government; and
         (24)(k) any other organization or entity. See Utah Code 68-3-12.5
  • 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
  • United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
  • 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) “Deliver” or “delivered” means by:

     (2)(a) overnight delivery by a reputable carrier;
     (2)(b) United States certified mail or express mail;
     (2)(c) hand delivery with receipt acknowledged in writing; or
     (2)(d) facsimile or electronic mail belonging to the beneficiary, mortgagee, or servicer.
(3) “Mortgage” is as described in Section 57-1-14.
(4) “Mortgagee” means the record owner of the mortgagee’s interest under a mortgage, including a successor in interest.
(5) “Satisfactory evidence of the full payment of the obligation secured by a trust deed or mortgage” means written information adequate, in the opinion of a title insurer or title agent, to establish that the obligation secured by the trust deed or mortgage has been paid in full.
(6) “Servicer” means a person or entity that collects loan payments on behalf of a beneficiary or mortgagee.
(7) “Title agent” means a title insurance producer licensed as an organization under Title 31A, Chapter 23a, Part 2, Producers and Consultants.
(8) “Title insurer” means a title insurer authorized to conduct business in the state under Title 31A, Chapter 23a, Part 2, Producers and Consultants.
(9) “Trust deed” is as defined in Subsection 57-1-19(3).

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