Section R592-8-3 - DefinitionsTerms 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;(C) a right of way, an easement, or both ;(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;(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: (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;(d) other experience with real estate not included in Subsections (a), (b), and (c) .Utah Admin. Code R592-8-3
Amended by Utah State Bulletin Number 2021-21, effective 10/12/2021