Terms Used In Utah Code 57-8a-305

• 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
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Judicial foreclosure: means a foreclosure of a lot:
       (13)(a) for the nonpayment of an assessment;
       (13)(b) in the manner provided by law for the foreclosure of a mortgage on real property; and
       (13)(c) as provided in Part 3, Collection of Assessments. See Utah Code 57-8a-102
• 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
• Nonjudicial foreclosure: means the sale of a lot:
       (19)(a) for the nonpayment of an assessment;
       (19)(b) in the same manner as the sale of trust property under Sections 57-1-19 through 57-1-34; and
       (19)(c) as provided in Part 3, Collection of Assessments. See Utah Code 57-8a-102