Terms Used In Utah Code > Title 61 > Chapter 2g > Part 2 - Division and Board

• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• Appraisal: A determination of property value.
• Appraisal: means an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of a specified interest in, or aspect of, identified real estate or identified real property. See Utah Code 61-2g-102
• Appraisal Foundation: means the Appraisal Foundation that was incorporated as an Illinois not-for-profit corporation on November 30, 1987. See Utah Code 61-2g-102
• Board: means the Real Estate Appraiser Licensing and Certification Board that is established in Section 61-2g-204. See Utah Code 61-2g-102
• Concurrence: means that the entities that are given a concurring role jointly agree to an action. See Utah Code 61-2g-102
• Contract: A legal written agreement that becomes binding when signed.
• Division: means the Division of Real Estate of the Department of Commerce. See Utah Code 61-2g-102
• Evaluation: means an opinion on the market value of real property or real estate that:
            (1)(l)(i) is made in accordance with the Interagency Appraisal and Evaluation Guidelines; and
            (1)(l)(ii) is provided to a financial institution for use in a real estate related transaction for which the regulations of the federal financial institutions regulatory agencies do not require an appraisal. See Utah Code 61-2g-102
• Executive director: means the executive director of the Department of Commerce. See Utah Code 61-2g-102
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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
• Quorum: The number of legislators that must be present to do business.
• Real estate: means an identified parcel or tract of land including improvements if any. See Utah Code 61-2g-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
• State-certified general appraiser: means a person who holds a current, valid certification as a state-certified general appraiser issued under this chapter. See Utah Code 61-2g-102
• State-certified residential appraiser: means a person who holds a current, valid certification as a state-certified residential real estate appraiser issued under this chapter. See Utah Code 61-2g-102
• Trainee: means an individual who:
            (1)(y)(i) does not hold an appraiser license or appraiser certification issued under this chapter;
            (1)(y)(ii) works under the direct supervision of a state-certified appraiser to earn experience for licensure; and
            (1)(y)(iii) is registered as a trainee under this chapter. See Utah Code 61-2g-102
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5