Utah § 57-28-206 Disbursement.

Utah Statutes

§ 57-28-206 — Disbursement.

Utah § 57-28-206

Title 57Real Estate

Ch. 57-28Utah Reverse Mortgage Act

Part 57-28-2Reverse Mortgage Requirements

This text of Utah § 57-28-206 (Disbursement.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 57-28-206 (2026).

Text

(1)Subject to Subsection (2) and except as provided in Subsection (3), a lender shall pay the loan proceeds of a reverse mortgage under a term payment option, a tenure payment option, or a line of credit payment option.

(2)Under a term payment option or a tenure payment option, upon a borrower's request, the lender shall disburse a portion of the loan proceeds under a line of credit payment option.

(3)If a reverse mortgage is a fixed interest rate loan, the lender may pay the loan proceeds in a lump sum.

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(1) Subject to Subsection (2) and except as provided in Subsection (3), a lender shall pay the loan proceeds of a reverse mortgage under a term payment option, a tenure payment option, or a line of credit payment option.
(2) Under a term payment option or a tenure payment option, upon a borrower's request, the lender shall disburse a portion of the loan proceeds under a line of credit payment option.
(3) If a reverse mortgage is a fixed interest rate loan, the lender may pay the loan proceeds in a lump sum.