R592-8-3. Definitions

  In addition to the definitions of Sections 31A-1-301, 31A-2-402 and 31A-23a-102, the following definitions shall apply for the purposes of this rule:

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

  (2) "Real estate experience" includes:

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

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

  (ii) financing and securing construction and permanent financing;

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

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

  (v) conducting closings; and

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

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

  (i) foreclosures;

  (A) judicial and non-judicial;

  (B) homeowner association (HOA) lien foreclosure;

  (ii) either side of 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 rights of way and/or easement;

  (D) a zoning issue;

  (E) a property tax issue;

  (F) a title issue or claim;

  (G) a landlord/tenant issue; and

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

  (c) non-law firm experience consisting of any or all 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 or all 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 (a), (b), and (c) above.