Utah § 57-28-207 - Cooling off period -- Closing.
Full text of Utah Utah Code § 57-28-207 — Cooling off period -- Closing., with citation guidance and answers to common questions.
§ 57-28-207. Cooling off period -- Closing.
57-28-207. Cooling off period -- Closing.
| (1) | After a prospective borrower accepts, in writing, a lender's written commitment to make a reverse mortgage, the lender may not bind the prospective borrower to the reverse mortgage earlier than five days after the day on which the prospective borrower gives the written acceptance to the lender. |
| (2) | During the five-day period described in Subsection (1), the lender may not require the prospective borrower to close or otherwise proceed with the reverse mortgage. |
| (3) | A prospective borrower may not waive the provisions of this section. |
Amended by Chapter 385, 2023 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 57-28-207
What does Utah Code § 57-28-207 cover?
Section 57-28-207 ("Cooling off period -- Closing.") is part of the Utah Code, the codified statutory law of Utah. 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 Utah § 57-28-207?
A common citation format is "Utah Code § 57-28-207" (Utah). 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 Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 57-28-207 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah 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 Utah.