Utah § 57-28-305 - Lender default.
Full text of Utah Utah Code § 57-28-305 — Lender default., with citation guidance and answers to common questions.
§ 57-28-305. Lender default.
57-28-305. 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. |
Enacted by Chapter 290, 2015 General Session
Frequently Asked Questions About Utah § 57-28-305
What does Utah Code § 57-28-305 cover?
Section 57-28-305 ("Lender default.") 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 § 57-28-305?
A common citation format is "Utah Code § 57-28-305" (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 § 57-28-305 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.