Tennessee § 47-30-118 - Fannie Mae Reverse Mortgage Loans.
Full text of Tennessee Tennessee Code Annotated § 47-30-118 — Fannie Mae Reverse Mortgage Loans., with citation guidance and answers to common questions.
§ 47-30-118. Fannie Mae Reverse Mortgage Loans.
When a Fannie Mae Reverse Mortgage Loan becomes due, the amount owed by the borrower shall not be greater than: The fair market value of the house; or The outstanding balance of the loan, including any equity share, if applicable under the terms of the contract, whichever is less. The lender shall enforce the debt only through the sale of the property and shall not obtain a deficiency judgment against the borrower. Acts 1997, ch. 286, § 8.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 47-30-118
What does Tennessee Code Annotated § 47-30-118 cover?
Section 47-30-118 ("Fannie Mae Reverse Mortgage Loans.") 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 § 47-30-118?
A common citation format is "Tennessee Code Annotated § 47-30-118" (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 § 47-30-118 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.