57-1-39. Definitions.

229 words·~1 min read·/ut/title-57/chapter-1/57-1-39

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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 or mortgage" means written information adequate, in the opinion of a title insurer or title agent, to establish 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 a beneficiary or mortgagee.

(7)"Title agent" means a title insurance producer licensed as an organization under Title 31A, Chapter 23a, Part 2, Producers and Consultants .

(8)"Title insurer" means a title insurer authorized to conduct business in the state under Title 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