1st Sub.
H.B.
400
CONDOMINIUM AND COMMUNITY ASSOCIATION PROVISIONS
senate floor
Amendments
Amendment 2 March 5, 2008 4:15 pm
Senator Michael G. Waddoups
proposes the following amendments:
1. Page
2, Lines 51 through 55
:
51
(4) (a) Subject to Subsection
57-8-37
(6),
{
if
}
[any] a
{
unit owner fails or refuses to pay an
52
assessment when due, that amount constitutes a lien on the interest of the owner in the
}
unit owner's
failure to pay an assessment on a unit constitutes a lien on the
53
{
property
}
unit in the unpaid amount and a transfer in trust of the owner's interest to a trustee
qualified under Section 57-1-21 to secure payment of the unpaid amount
, and
{
[
}
upon
{
]
}
the recording of
a
notice of
that
lien
,
[by the manager or management committee
54
it]
{
is evidence of the lien, which is a lien upon the unit owner's interest in the property
}
[prior
55
to]
{
before
}
the lien has priority over
all other liens and encumbrances, recorded or unrecorded,
except:
2. Page
3, Lines 59 through 60
:
59
[such] the notice is recorded [which] that by law [would be a lien prior to]
{
are liens before a
}
have
priority over
60
subsequently recorded
{
[
}
encumbrances
{
]
}
{
encumbrance
}
.
3. Page
3, Lines 72 through 77
:
72
[(b)] (c) (i) The lien for nonpayment of an assessment may be enforced by
{
[
}
sale or
{
]
}
73
foreclosure of the unit owner's interest by the manager or management committee.
74
(ii) The
{
[
}
sale or
{
]
}
foreclosure under Subsection (4)(c)(i) shall be conducted in the same
75
manner as foreclosures
{
[
}
in deeds of trust or
{
]
}
{
of
}
mortgages
{
[
}
or in any other
manner permitted by
76
law
{
]
}
.
77
[(c)] (d) (i) In any foreclosure
{
[
}
or sale
{
]
}
, the unit owner shall pay the costs and expenses
4. Page
3, Line 84
:
84
committee may bid [in] on the unit at foreclosure
{
[
}
or other sale
{
]
}
and hold, lease, mortgage, or
5. Page
6, Line 174
:
(9) In a trust under Subsection (4)(a):
(a) the unit owner is the trustor of the trust;
(b) the association is the beneficiary of the trust;
(c) the trustor and the beneficiary have all rights, obligations, and limitations provided in Sections
57-1-19 through 57-1-32;
(d) the association may appoint or substitute a trustee at any time, as provided in Section 57-1-22;
and
(e) upon the appointment or substitution of a trustee, the trustee has all rights, obligations, and
limitations provided in Sections 57-1-19 through 57-1-32.
174
{
(9)
}
(10)
Remedies provided in this section, by law, or in equity are not considered to be
6. Page
7, Lines 196 through 197
:
196
(1) (a)
{
If an owner fails or refuses to pay an assessment when due, that amount
}
A unit
owner's failure to pay an assessment on a property
197
constitutes a lien
in the unpaid amount
on the interest of the owner in the property
and a transfer in
trust of the owner's interest to a trustee qualified under Section 57-1-21 to secure payment of the
unpaid amount
.
7. Page
7, Line 209
:
209
[(b) Upon the recording] (c) Recording of
the
notice of lien [by the manager or board of
8. Page
7, Line 211
:
211
unit owner's interest in the property [prior to]
{
before
}
with priority over
all other liens and
encumbrances, recorded
9. Page
8, Lines 220 through 225
:
220
(2) (a) The manager or board of directors may enforce a lien described in Subsection
221
(1) by
{
[
}
sale or
{
]
}
foreclosure of the owner's interest.
222
(b) The
{
[
}
sale or
{
]
}
foreclosure described in Subsection (2)(a) shall be conducted in the
223
same manner as foreclosures
{
[
}
in: (i)
{
]
}
{
of
}
mortgages[; or]
{
.
}
;
(ii) deeds of trust; or
(iii) any other manner permitted by law.
224
[(ii) any other manner permitted by law.]
225
(3) In a
{
[
}
sale or
{
]
}
foreclosure described in Subsection (2)(a), the owner shall pay:
10. Page
8, Line 230
:
230
(a) bid at a
{
[
}
sale or
{
]
}
foreclosure described in Subsection (2)(a); and
11. Page
8, Line 231
:
231
(b) hold, lease, mortgage, or convey the lot that is subject to the lien.
(5) In a trust under Subsection (1)(a):
(a) the property owner is the trustor of the trust;
(b) the association is the beneficiary of the trust;
(c) the trustor and the beneficiary have all rights, obligations, and limitations provided in Sections
57-1-19 through 57-1-32;
(d) the association may appoint or substitute a trustee at any time, as provided in Section 57-1-22;
and
(e) upon the appointment or substitution of a trustee, the trustee has all rights, obligations, and
limitations provided in Sections 57-1-19 through 57-1-32.
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