Terms Used In Utah Code > Title 70D > Chapter 2 - Mortgage Lending and Servicing Act

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Alcoholic product: includes an alcoholic beverage. See Utah Code 32B-1-102
• Allegation: something that someone says happened.
• broker: means a person who in the regular course of business assists a person in obtaining a mortgage loan for a fee or other consideration paid directly or indirectly. See Utah Code 70D-2-102
• Commission: means the Alcoholic Beverage Services Commission created in Section 32B-2-201. See Utah Code 32B-1-102
• Commissioner: means a member of the commission. See Utah Code 32B-1-102
• Commissioner: means the commissioner of the department. See Utah Code 70D-1-102
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• 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.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Alcoholic Beverage Services created in Section 32B-2-203. See Utah Code 32B-1-102
• Department: means the Department of Financial Institutions. See Utah Code 70D-1-102
• Dependent: A person dependent for support upon another.
• Depose: means to make a written statement made under oath or affirmation. See Utah Code 68-3-12.5
• Depository institution: is a s defined in Section 7-1-103. See Utah Code 70D-1-102
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Dwelling: means a residential structure attached to real property that contains one to four units including any of the following if used as a residence:
       (4)(a) a condominium unit;
       (4)(b) a cooperative unit;
       (4)(c) a manufactured home; or
       (4)(d) a house. See Utah Code 70D-1-102
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• 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.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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.
• Lender: includes a mortgage lender. See Utah Code 70D-2-102
• Lien: A claim against real or personal property in satisfaction of a debt.
• Liquor: includes :
                 (66)(a)(ii)(A) heavy beer;
                 (66)(a)(ii)(B) wine; and
                 (66)(a)(ii)(C) a flavored malt beverage. See Utah Code 32B-1-102
• Manufactured home: means a transportable factory built housing unit that:
       (4)(a) is constructed:

            (4)(a)(i) on or after June 15, 1976, according to the National Manufactured Housing Construction and Safety Standards Act of 1974; and

            (4)(a)(ii) in one or more sections, which:

                 (4)(a)(ii)(A) in the traveling mode, is eight body feet or more in width or 40 body feet or more in length; or

                 (4)(a)(ii)(B) when erected on site, is 400 or more square feet;
       (4)(b) is built on a permanent chassis;
       (4)(c) is designed to be used as a dwelling with or without a permanent foundation when connected to the required utilities; and
       (4)(d) includes the plumbing, heating, air-conditioning, and electrical systems. See Utah Code 70D-2-102
• Member: means an individual who, after paying regular dues, has full privileges in an equity licensee or fraternal licensee. See Utah Code 32B-1-102
• Mobile home: means a transportable factory built housing unit built before June 15, 1976, in accordance with a state mobile home code that existed before the National Manufactured Housing Construction and Safety Standards Act of 1974. See Utah Code 70D-2-102
• Modular home: means a modular unit as defined in Section 15A-1-302. See Utah Code 70D-2-102
• Mortgage: means a mortgage or deed of trust affecting real property located in this state. See Utah Code 70D-1-102
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage lender: means an entity that performs each of the following related to originating a mortgage loan:
       (7)(a) taking and processing an application;
       (7)(b) providing a required disclosure;
       (7)(c) in some circumstances, underwriting the mortgage loan and making the final credit approval decision;
       (7)(d) closing the mortgage loan in its name;
       (7)(e) funding the mortgage loan; and
       (7)(f) selling the mortgage loan to an investor. See Utah Code 70D-2-102
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• Mortgage loan: means a loan:
            (6)(a)(i) secured by a mortgage; and
            (6)(a)(ii) made for personal, family, or household purposes. See Utah Code 70D-1-102
• Mortgagor: means a person who:
       (7)(a) executes a mortgage; or
       (7)(b) is obligated to pay a mortgage loan. See Utah Code 70D-1-102
• Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
• Nationwide database: means the Nationwide Mortgage Licensing System and Registry, authorized under Utah Code 70D-2-102
• Oath: A promise to tell the truth.
• Oath: includes "affirmation. See Utah Code 68-3-12.5
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Permanently affixed: means anchored to, and supported by, a permanent foundation or installed in accordance with the manufactured housing installation standard code referred to in Section 15A-1-202. See Utah Code 70D-2-102
• 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 :
       (25)(a) money;
       (25)(b) goods;
       (25)(c) chattels;
       (25)(d) effects;
       (25)(e) evidences of a right in action;
       (25)(f) a written instrument by which a pecuniary obligation, right, or title to property is created, acknowledged, transferred, increased, defeated, discharged, or diminished; and
       (25)(g) a right or interest in an item described in Subsections (25)(a) through (f). See Utah Code 68-3-12.5
• Premises: means a building, enclosure, or room used in connection with the storage, sale, furnishing, consumption, manufacture, or distribution, of an alcoholic product, unless otherwise defined in this title or rules made by the commission. See Utah Code 32B-1-102
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• real property: includes :
       (31)(a) land;
       (31)(b) a tenement;
       (31)(c) a hereditament;
       (31)(d) a water right;
       (31)(e) a possessory right; and
       (31)(f) a claim. See Utah Code 68-3-12.5
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Record: means information that is:
       (8)(a) inscribed on a tangible medium; or
       (8)(b) stored in an electronic or other medium and is retrievable in perceivable form. See Utah Code 70D-1-102
• Record: includes :
            (103)(b)(i) a book;
            (103)(b)(ii) a book of account;
            (103)(b)(iii) a paper;
            (103)(b)(iv) a contract;
            (103)(b)(v) an agreement;
            (103)(b)(vi) a document; or
            (103)(b)(vii) a recording in any medium. See Utah Code 32B-1-102
• Servicer: means a person who in the regular course of business assumes responsibility for servicing and accepting payments for a mortgage loan. See Utah Code 70D-2-102
• Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5
• Staff: includes :
            (128)(b)(i) an officer;
            (128)(b)(ii) a director;
            (128)(b)(iii) an employee;
            (128)(b)(iv) personnel management;
            (128)(b)(v) an agent of the licensee, including a managing agent;
            (128)(b)(vi) an operator; or
            (128)(b)(vii) a representative. See Utah Code 32B-1-102
• State: means :
       (10)(a) a state, territory, or possession of the United States;
       (10)(b) the District of Columbia; or
       (10)(c) the Commonwealth of Puerto Rico. See Utah Code 70D-1-102
• Store: means to place or maintain in a location an alcoholic product. See Utah Code 32B-1-102
• Subpoena: A command to a witness to appear and give testimony.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5
• Utah Code: means the 1953 recodification of the Utah Code, as amended, unless the text expressly references a portion of the 1953 recodification of the Utah Code as it existed:
       (42)(a) on the day on which the 1953 recodification of the Utah Code was enacted; or
       (42)(b)

            (42)(b)(i) after the day described in Subsection (42)(a); and

            (42)(b)(ii) before the most recent amendment to the referenced portion of the 1953 recodification of the Utah Code. See Utah Code 68-3-12.5
• 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