Utah Statutes
§ 57-28-302 — Treatment of loan proceeds -- Effect on assistance eligibility.
Utah § 57-28-302
JurisdictionUtah
Title 57Real Estate
Ch. 57-28Utah Reverse Mortgage Act
Part 57-28-3Reverse Mortgage Proceeds, Priority, Foreclosure, and Lender Default
This text of Utah § 57-28-302 (Treatment of loan proceeds -- Effect on assistance eligibility.) 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. § 57-28-302 (2026).
Text
For purposes of determining a borrower's eligibility and benefits for a means-tested program of aid to individuals:
(1)a reverse mortgage loan payment made to a borrower shall be treated as proceeds from a loan and not as income; and
(2)undisbursed funds under a reverse mortgage shall be treated as equity in the borrower's home and not as proceeds from a loan.
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Legislative History
Enacted by Chapter 290, 2015 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.Cite This Page — Counsel Stack
Bluebook (online)
Utah § 57-28-302, Counsel Stack Legal Research, https://law.counselstack.com/statute/ut/57-28-302.