Utah Code > Title 59 > Chapter 2 > Part 7 – Appraisers and Appraisals
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Terms Used In Utah Code > Title 59 > Chapter 2 > Part 7 - Appraisers and Appraisals
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Appraisal: A determination of property value.
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Fair market value: means the amount at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of the relevant facts. See Utah Code 59-2-102
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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
- Personal property: All property that is not real property.
- Personal property: includes :
(28)(a) every class of property as defined in Subsection (29) that is the subject of ownership and is not real estate or an improvement;(28)(b) any pipe laid in or affixed to land whether or not the ownership of the pipe is separate from the ownership of the underlying land, even if the pipe meets the definition of an improvement;(28)(c) bridges and ferries;(28)(d) livestock; and(28)(e) outdoor advertising structures as defined in Section72-7-502 . See Utah Code 59-2-102- Property: means property that is subject to assessment and taxation according to its value. See Utah Code 59-2-102
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- real property: includes :
(32)(a) the possession of, claim to, ownership of, or right to the possession of land;(32)(b) all mines, minerals, and quarries in and under the land, all timber belonging to individuals or corporations growing or being on the lands of this state or the United States, and all rights and privileges appertaining to these; and(32)(c) improvements. See Utah Code 59-2-102- 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