57-28-303. Priority.
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/ut/title-57/chapter-28/57-28-303A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/12/2015
57-28-303. Priority.
(1)All amounts secured by a reverse mortgage have the same lien priority as the first disbursement under the reverse mortgage.
(2)For purposes of Subsection
(1), the amount secured by the reverse mortgage includes any payment to the borrower from the loan proceeds, regardless of the purpose of the payment.
Enacted by Chapter 290 , 2015 General Session