On Apr. 30, POL GVT announced uniform text of reverse mortgage act.
POL GVT published a consolidated text of the Reverse mortgage act, dated Apr. 23, 2023, including changes resulting from regulations announced before Apr. 16, 2025.
Follows POL GVT Jan. 2023 issued consolidated reverse mortgage text, see #161010.
Consolidated Text
Based on act of Jul. 20, 2000 on the promulgation of normative acts and other legal acts and the consolidated text of the Act of Oct. 23, 2014, on reverse mortgages.
Includes changes introduced by Act of Dec. 20, 2024 on entities servicing loans and loan purchasers and changes resulting in provisions announced before Apr. 16, 2025.
The consolidated text of the act does not include Article 76 of Act of Dec. 20, 2024.
Effectiveness
The new Act shall enter into force 30 days after its publication, from May 30, 2025.
