57-1-39 - Definitions. - Utah Statutes

57-1-39. Definitions.
As used in Sections 57-1-40 and 57-1-44:
(1) "Beneficiary" means the record owner of the beneficiary's interest under a trust deed,including successors in interest.
(2) "Deliver" or "delivered" means by:
(a) overnight delivery by a reputable carrier;
(b) United States certified mail or express mail;
(c) hand delivery with receipt acknowledged in writing; or
(d) facsimile or electronic mail belonging to the beneficiary, mortgagee, or servicer.
(3) "Mortgage" is as described in Section 57-1-14.
(4) "Mortgagee" means the record owner of the mortgagee's interest under a mortgage,including a successor in interest.
(5) "Satisfactory evidence of the full payment of the obligation secured by a trust deed ormortgage" means written information adequate, in the opinion of a title insurer or title agent, toestablish that the obligation secured by the trust deed or mortgage has been paid in full.
(6) "Servicer" means a person or entity that collects loan payments on behalf of abeneficiary or mortgagee.
(7) "Title agent" means a title insurance producer licensed as an organization under Title31A, Chapter 23a, Part 2, Producers and Consultants.
(8) "Title insurer" means a title insurer authorized to conduct business in the state underTitle 31A, Chapter 23a, Part 2, Producers and Consultants.
(9) "Trust deed" is as defined in Subsection 57-1-19(3).

Amended by Chapter 250, 2006 General Session