Terms Used In Utah Code 57-23-1

• Cooperative: means a form of coownership of real estate in which:
       (1)(a) the fee interest in the real estate is held by a corporation, partnership, trust, or other legal entity;
       (1)(b) an individual's interest in the cooperative is evidenced in a form such as stock, participation shares, membership certificates, or similar instrument; and
       (1)(c) the participating individual's right of occupancy is demonstrated by a proprietary lease or similar instrument. See Utah Code 57-23-2