GroundRules
Utah Code § 57-28-305: Lender default.
Where this section sits in the code
- Title 57 Real Estate
- Chapter 57-28 Utah Reverse Mortgage Act
- Part 57-28-3 Reverse Mortgage Proceeds, Priority, Foreclosure, and Lender Default
(1) A lender who fails to make a loan advance on a non-federally insured reverse mortgage in accordance with the reverse mortgage agreement shall forfeit any right to repayment of the outstanding loan balance.
(2) After a lender forfeits the lender's right to repayment under Subsection (1), the reverse mortgage loan agreement is void.
Collected 2026-09-03T11:34:33Z. Source file · JSON