Terms Used In Utah Code > Title 61 > Chapter 2e > Part 2 - Registration

• Allegation: something that someone says happened.
• Appraisal: A determination of property value.
• Appraisal: means the same as that term is defined in Section 61-2g-102. See Utah Code 61-2e-102
• Appraisal management service: means :
       (5)(a) recruiting, selecting, or retaining an appraiser;
       (5)(b) contracting with an appraiser to perform a real estate appraisal activity for a client;
       (5)(c) managing the appraisal process, including one or more of the following administrative services:

            (5)(c)(i) receiving an appraisal order or an appraisal report;

            (5)(c)(ii) submitting a completed appraisal report to a client;

            (5)(c)(iii) collecting a fee from a client for a service provided; or

            (5)(c)(iv) paying an appraiser for a real estate appraisal activity; or
       (5)(d) reviewing or verifying the work of an appraiser. See Utah Code 61-2e-102
• Appraiser: means an individual who engages in a real estate appraisal activity. See Utah Code 61-2e-102
• Appraiser panel: includes an appraiser whom the appraisal management company has:
            (9)(b)(i) accepted for consideration for a future appraisal assignment:

                 (9)(b)(i)(A) in a residential mortgage loan transaction; or

                 (9)(b)(i)(B) for a secondary mortgage market participant in connection with a residential mortgage loan transaction; or
            (9)(b)(ii) engaged to perform an appraisal:

                 (9)(b)(ii)(A) in a residential mortgage loan transaction; or

                 (9)(b)(ii)(B) for a secondary mortgage market participant in connection with a residential mortgage loan transaction. See Utah Code 61-2e-102
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Board: means the Real Estate Appraiser Licensing and Certification Board that is created in Section 61-2g-204. See Utah Code 61-2e-102
• Client: means a person that enters into an agreement with an appraisal management company for the performance of a real estate appraisal activity. See Utah Code 61-2e-102
• Concurrence: means that the entities that are given a concurring role must jointly agree before an action may be taken. See Utah Code 61-2e-102
• Controlling person: means :
       (13)(a) an owner, officer, or director of an entity seeking to offer appraisal management services;
       (13)(b) an individual employed, appointed, or authorized by an appraisal management company who has the authority to:

            (13)(b)(i) enter into a contractual relationship with a client for the performance of an appraisal management service; and

            (13)(b)(ii) enter into an agreement with an appraiser for the performance of a real estate appraisal activity; or
       (13)(c) a person who possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of an appraisal management company. See Utah Code 61-2e-102
• Conviction: A judgement of guilt against a criminal defendant.
• Director: means the director of the division. See Utah Code 61-2e-102
• Division: means the Division of Real Estate, created in Section 61-2-201, of the Department of Commerce. See Utah Code 61-2e-102
• Entity: means :
       (18)(a) a corporation;
       (18)(b) a partnership;
       (18)(c) a sole proprietorship;
       (18)(d) a limited liability company;
       (18)(e) another business entity; or
       (18)(f) a subsidiary or unit of an entity described in Subsections (18)(a) through (e). See Utah Code 61-2e-102
• 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.
• Federally regulated appraisal management company: means an appraisal management company that is:
       (19)(a) owned and controlled by an insured depository institution, as defined in Utah Code 61-2e-102
• Fraud: Intentional deception resulting in injury to another.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Person: means an individual or an entity. See Utah Code 61-2e-102
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Process: means a writ or summons issued in the course of a judicial proceeding. See Utah Code 68-3-12.5
• Real estate appraisal activity: means the same as that term is defined in Section 61-2g-102. See Utah Code 61-2e-102
• Service of process: The service of writs or summonses to the appropriate party.
• 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
• Territory: means any of the following United States territories:
       (26)(a) Guam;
       (26)(b) Northern Mariana Islands;
       (26)(c) Puerto Rico; or
       (26)(d) United States Virgin Islands. See Utah Code 61-2e-102