Utah Code § 57-29-102: Definitions.

As used in this chapter:

(1) "Commission" means the Real Estate Commission created in Section 61-2f-103.

(2) "Director" means the director of the Division of Real Estate.

(3) "Division" means the Division of Real Estate created in Section 61-2-201.

(4) "Management agreement" means an agreement between a person and each owner of an undivided fractionalized long-term estate in a piece of real property under which the person agrees to manage the leasing or operations of the real property.

(5) "Master lease" means an agreement under which a person is granted a leasehold interest in real property and may sublease all or a portion of the real property to one or more persons.

(6) "Master lease tenant" means the lessee in a master lease.

(7) "Sponsor" means a person who is the original seller of an undivided fractionalized long-term estate.

(8)

(a) "Undivided fractionalized long-term estate" means an ownership interest in real property by two or more persons that is:

(i) a tenancy in common; or

(ii) a fee estate.

(b) "Undivided fractionalized long-term estate" does not include a joint tenancy.