According to Utah law, possession of a property is based upon what event?

Possession of a property in Utah is established at the time of closing. This marks the moment when the buyer completes the transaction and takes ownership of the property, typically involving the transfer of the title and the finalization of financing arrangements. At closing, all necessary paperwork is signed, funds are exchanged, and the buyer receives the keys to the property, officially giving them legal possession.

While inspection completion, contract signing, and financing approval are important steps in the home-buying process, they do not confer possession. Inspections are part of the due diligence and can influence negotiations, contracts establish the terms of the sale, and financing approval is necessary to secure a loan. However, none of these events result in possession of the property until the closing occurs, making it the correct answer in the context of Utah law.