Tennessee § 47-30-112 - Borrower's default — Terms and conditions.
Full text of Tennessee Tennessee Code Annotated § 47-30-112 — Borrower's default — Terms and conditions., with citation guidance and answers to common questions.
§ 47-30-112. Borrower's default — Terms and conditions.
A reverse mortgage loan contract may provide for a borrower's default, thereby triggering early repayment of the loan, based only upon one (1) or more of the following terms and conditions: The borrower fails to maintain the residence as required by the contract; The borrower sells or otherwise conveys title to the home to a third party; The borrower dies and the home is not the principal residence of the surviving borrower; The home is not the principal residence of at least one (1) of the borrowers for a period of twelve (12) consecutive months for reasons of physical or mental illness; For reasons other than physical or mental illness, the home ceases, without prior written permission from the lender, to be the principal residence of the borrower for a period of ninety (90) consecutive days and is not the principal residence during such period of another borrower under the loan; The borrower fails to pay property taxes, hazard insurance premiums, mortgage insurance premiums, service fees or assessments under § 47-30-106; or The mortgage or deed of trust ceases to constitute a first lien on the property securing the reverse mortgage loan. Acts 1993, ch. 410, § 13; 1997, ch. 286, § 10.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 47-30-112
What does Tennessee Code Annotated § 47-30-112 cover?
Section 47-30-112 ("Borrower's default — Terms and conditions.") 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 § 47-30-112?
A common citation format is "Tennessee Code Annotated § 47-30-112" (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 § 47-30-112 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.