Utah Code 57-8a-106. Fee for providing payoff information needed at closing
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(1) Unless specifically authorized in the declaration of covenants, conditions, and restrictions, the bylaws, or the rules, an association may not charge a fee for providing association payoff information needed in connection with the financing, refinancing, or closing of a lot owner’s sale of the owner’s lot.
Terms Used In Utah Code 57-8a-106
- association: means a corporation or other legal entity, any member of which:(2)(a)(i) is an owner of a residential lot located within the jurisdiction of the association, as described in the governing documents; and(2)(a)(ii) by virtue of membership or ownership of a residential lot is obligated to pay:(2)(a)(ii)(A) real property taxes;(2)(a)(ii)(B) insurance premiums;(2)(a)(ii)(C) maintenance costs; or(2)(a)(ii)(D) for improvement of real property not owned by the member. See Utah Code 57-8a-102
- Lien: A claim against real or personal property in satisfaction of a debt.
- Lot: means :
(16)(a) a lot, parcel, plot, or other division of land:(16)(a)(i) designated for separate ownership or occupancy; and(16)(a)(ii)(16)(a)(ii)(A) shown on a recorded subdivision plat; or(16)(a)(ii)(B) the boundaries of which are described in a recorded governing document; or(16)(b)(16)(b)(i) a unit in a condominium association if the condominium association is a part of a development; or(16)(b)(ii) a unit in a real estate cooperative if the real estate cooperative is part of a development. See Utah Code 57-8a-102- 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- 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 may not:(2)(a) require a fee described in Subsection(1) that is authorized in the declaration of covenants, conditions, and restrictions, the bylaws, or the rules to be paid before closing; or(2)(b) charge the fee if it exceeds $50.(3)(3)(a) An association 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 Subsection57-8a-105(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 lot for which the payoff information is requested.(4) This section applies to each association, regardless of when the association is formed.