Terms Used In Utah Code > Title 53C > Chapter 1 > Part 3 - Director and School and Institutional Trust Lands Administration

• Administration: means the School and Institutional Trust Lands Administration. See Utah Code 53C-1-103
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• board of trustees: means the School and Institutional Trust Lands Board of Trustees. See Utah Code 53C-1-103
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• director of school and institutional trust lands: means the chief executive officer of the School and Institutional Trust Lands Administration. See Utah Code 53C-1-103
• 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.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fiduciary: A trustee, executor, or administrator.
• Land: includes :
       (18)(a) land;
       (18)(b) a tenement;
       (18)(c) a hereditament;
       (18)(d) a water right;
       (18)(e) a possessory right; and
       (18)(f) a claim. See Utah Code 68-3-12.5
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Policies: means statements applying to the administration that broadly prescribe a future course of action and guiding principles. See Utah Code 53C-1-103
• Primary beneficiary representative: means the the Land Trusts Protection and Advocacy Office, created in Section 53D-2-201, acting as representative on behalf of the following trusts:
       (7)(a) the trust established for common schools;
       (7)(b) the trust established for schools for the blind; and
       (7)(c) the trust established for schools for the deaf. See Utah Code 53C-1-103
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Property: includes both real and personal property. See Utah Code 68-3-12.5
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• 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
• trust lands: means those properties granted by the United States in the Utah Enabling Act to the state in trust, and other lands transferred to the trust, which must be managed for the benefit of:
       (8)(a) the state's public education system; or
       (8)(b) the institutions of the state which are designated by the Utah Enabling Act as beneficiaries of trust lands. See Utah Code 53C-1-103
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Uphold: The decision of an appellate court not to reverse a lower court decision.
• 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