Utah Admin. Code R592-8-3 - Definitions

Terms used in this rule are defined in Sections 31A-1-301, 31A-2-402, and 31A-23a-10. Additional terms are defined as follows:

(1) "Attorney" means a person licensed, in good standing, with the Utah State Bar.

(2) "Real estate experience" includes:

(a) law firm transactional experience consisting of any of the following:

(i) real estate transactions, drafting documents, reviewing and negotiating contracts of sale, real estate purchase contracts (REPC), commercial transactions, residential transactions;

(ii) financing and securing construction and permanent financing;

(iii) title review, due diligence, consulting and negotiating with title companies, researching and drafting title opinions, coordinating with title companies, pre-closing;

(iv) zoning, development, construction, homeowners' associations, subdivisions, condominiums, planned unit developments;

(v) conducting closings; and

(vi) estate planning, probate-related transactions and conveyances.

(b) law firm litigation experience consisting of any of the following:

(i) foreclosures;

(A) judicial and non-judicial;

(B) homeowner association (HOA) lien foreclosure;

(ii) homeowner vs. HOA litigation;

(iii) state construction registry litigation, mechanics lien filing and litigation;

(iv) real estate disputes or litigation involving:

(A) a real estate contract;

(B) a boundary line;

(C) a right of way, an easement, or both ;

(D) a zoning issue;

(E) a property tax issue;

(F) a title issue or claim;

(G) an issue between a landlord and a tenant; and

(H) an estate or probate litigation, or both, involving real property assets, claims, and disputes.

(c) non-law firm experience consisting of any of the following:

(i) real estate agent, broker, developer, investor;

(ii) mortgage broker;

(iii) general contractor;

(iv) professor or instructor teaching real estate licensing, real estate contracts, or real estate law;

(v) lender involved with any of the following real estate lending activities:

(A) lending;

(B) escrow; or

(C) foreclosure;

(vi) private lender;

(vii) in-house counsel involved in real estate transactions for bank, mortgage lender, credit union, title company, or agency title insurance producer;

(viii) employment with or counsel to a government agency involved in regulation of real estate, such as HUD, FHA, zoning, tax assessor, county recorder, insurance department, and federal or state legislatures;

(ix) escrow officer;

(x) title searcher; or

(xi) surveyor; and

(d) other experience with real estate not included in Subsections (a), (b), and (c) .

Notes

Utah Admin. Code R592-8-3

Amended by Utah State Bulletin Number 2021-21, effective 10/12/2021