Utah Code § 57-23-2

Current through the 2024 Fourth Special Session

Section 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.

Utah Code § 57-23-2

Enacted by Chapter 262, 1991 General Session