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Code · Utah · Title 57 — Real Estate · Chapter 23

57-23-2. Definitions.

98 words·~1 min read·/ut/title-57/chapter-23/57-23-2

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57-23-2. Definitions.
As used in this chapter:
(1)"Cooperative" means a form of coownership of real estate in which:
(a)the fee interest in the real estate is held by a corporation, partnership, trust, or other legal entity;
(b)an individual's interest in the cooperative is evidenced in a form such as stock, participation shares, membership certificates, or similar instrument; and
(c)the participating individual's right of occupancy is demonstrated by a proprietary lease or similar instrument.
(2)"Division" means the Division of Real Estate of the Department of Commerce.
Enacted by Chapter 262 , 1991 General Session
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