diff --git a/system_modules/CMUTIL_VERSION.cmake b/system_modules/CMUTIL_VERSION.cmake
index 896113e..df3b350 100644
--- a/system_modules/CMUTIL_VERSION.cmake
+++ b/system_modules/CMUTIL_VERSION.cmake
@@ -108,11 +108,39 @@ ENDFUNCTION()
 
 ##
 #
-# Locate ${CMAKE_CURRENT_LIST_DIR}/version.txt,
+# Locate ${CMAKE_CURRENT_SOURCE_DIR}/version.txt, and parse the version.
+# The version is expected to be defined as a key-value `version=X.Y.Z`
+#
+# If the version.txt file doesn't exist, or doesn't contain version key-value, an error occurs
+#
+# <function>(
+# 		<output_var>
+# )
+FUNCTION(CMUTIL_VERSION_GET_FROM_VERSION_FILE output_var)
+	SET(version_file ${ARGN})
+	IF("${version_file}" STREQUAL "")
+		SET(version_file "${CMAKE_CURRENT_SOURCE_DIR}/version.txt")
+	ENDIF()
+
+	SET(inject_version "")
+	CMUTIL_PROPERTY_FILE_READ("${version_file}" inject)
+	IF(NOT DEFINED inject_version OR "${inject_version}" STREQUAL "")
+		MESSAGE(FATAL_ERROR "${version_file} is not valid")
+	ENDIF()
+	CMUTIL_VERSION_CHECK("${inject_version}")
+
+	SET(${output_var} "${inject_version}" PARENT_SCOPE)
+ENDFUNCTION()
+
+
+
+##
+#
+# Locate ${CMAKE_CURRENT_SOURCE_DIR}/version.txt,
 # read the first line and compare version stored in version.txt
 # with ${version}.
 #
-# If versions does not match error occurres.
+# If versions does not match error occurs.
 #
 # <function>(
 #		<version>
@@ -124,11 +152,12 @@ FUNCTION(CMUTIL_VERSION_VALIDATE_VERSION_FILE_FOR version)
 		SET(version_file "${CMAKE_CURRENT_SOURCE_DIR}/version.txt")
 	ENDIF()
 
+	SET(inject_version "")
 	CMUTIL_PROPERTY_FILE_READ("${version_file}" inject)
-	IF(NOT inject_version)
+	IF(NOT DEFINED inject_version OR "${inject_version}" STREQUAL "")
 		MESSAGE(FATAL_ERROR "${version_file} is not valid")
 	ENDIF()
-	CMUTIL_VERSION_CHECK(${inject_version})
+	CMUTIL_VERSION_CHECK("${inject_version}")
 	IF(NOT version STREQUAL inject_version)
 		MESSAGE(FATAL_ERROR "${version_file} is not in sync with current branch (${version} vs. ${inject_version})")
 	ENDIF()
diff --git a/test/VERSION/CMakeLists.txt b/test/VERSION/CMakeLists.txt
index 0eed231..15f40cc 100644
--- a/test/VERSION/CMakeLists.txt
+++ b/test/VERSION/CMakeLists.txt
@@ -32,6 +32,13 @@ ENDIF()
 CMUTIL_VERSION_VALIDATE_VERSION_FILE_FOR("1.58.3")
 
 
+CMUTIL_VERSION_GET_FROM_VERSION_FILE(parsed_version)
+IF (NOT parsed_version STREQUAL "1.58.3")
+	MESSAGE(FATAL_ERROR " Error when parsing version from version.txt. Expected: \"1.58.3\", Actual: ${parsed_version}")
+ELSE ()
+	MESSAGE("Passed test for: CMUTIL_VERSION_GET_FROM_VERSION_FILE")
+ENDIF()
+
 
 CMUTIL_VERSION_NORMALIZE(version_normalized "1.58.3")
 IF(NOT version_normalized STREQUAL "001058003")