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Terms Used In Utah Code 57-26-116

  • Proceeds: means personal property that is received or collected on account of a tenant's obligation to pay rents. See Utah Code 57-26-102
  • Rents: means :
         (12)(a) sums payable for the right to possess or occupy, or for the actual possession or occupation of, real property of another person;
         (12)(b) sums payable to an assignor under a policy of rental interruption insurance covering real property;
         (12)(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;
         (12)(d) sums payable to terminate an agreement to possess or occupy real property of another person;
         (12)(e) sums payable to an assignor for payment or reimbursement of expenses incurred in owning, operating and maintaining, or constructing or installing improvements on, real property; or
         (12)(f) any other sums payable under an agreement relating to the real property of another person that constitute rents under law of this state other than this chapter. See Utah Code 57-26-102

     This chapter does not preclude subordination by agreement as to rents or proceeds.