Tennessee § 47-30-106 - Contract may require borrower to pay certain taxes, premiums and assessments.
Full text of Tennessee Tennessee Code Annotated § 47-30-106 — Contract may require borrower to pay certain taxes, premiums and assessments., with citation guidance and answers to common questions.
§ 47-30-106. Contract may require borrower to pay certain taxes, premiums and assessments.
A reverse mortgage loan contract may provide that it is the primary obligation of the borrower to pay some or all of the property taxes, hazard insurance premiums, private or federal mortgage insurance premiums, and assessments, in a timely manner, and that the failure of the borrower to make these payments and to provide evidence of payment to the lender may constitute grounds for default of the loan. A reverse mortgage loan contract shall state that if a borrower fails to pay property taxes, insurance premiums, or assessments, the lender may choose, at the lender's option, to pay the amounts due, charge them to the loan, and recalculate regularly scheduled payments under the loan to account for the increased outstanding loan balance. Acts 1993, ch. 410, § 7.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 47-30-106
What does Tennessee Code Annotated § 47-30-106 cover?
Section 47-30-106 ("Contract may require borrower to pay certain taxes, premiums and assessments.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 47-30-106?
A common citation format is "Tennessee Code Annotated § 47-30-106" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 47-30-106 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.