Utah Statutes
§ 57-28-202 — Borrower requirements.
Utah·Title 57 Real Estate·Ch. 57-28 Utah Reverse Mortgage Act·Part 57-28-2 Reverse Mortgage Requirements
A borrower shall:
(1)(1)(a) for a home equity conversion mortgage insured by the Federal Housing Administration under Title 1 of the National Housing Act, 12 U.S.C. Sec. 1715z-20, be 62 years old or older; and
(1)(b) for proprietary loans not insured by the Federal Housing Administration, be 55 years old or older; and
(2)occupy the dwelling that secures the reverse mortgage as a principal residence.
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Legislative History
Amended by Chapter 385, 2023 General Session
Nearby Sections
15
§ 57-1-1
Definitions.§ 57-1-10
After-acquired title passes.§ 57-1-12
Form of warranty deed -- Effect.§ 57-1-12.5
Form of special warranty deed -- Effect.§ 57-1-13
Form of quitclaim deed.§ 57-1-14
Form of mortgage -- Effect.§ 57-1-19
Trust deeds -- Definitions of terms.