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        Direct Taxes

        Para 5 - Disbursement of loan

        Reverse Mortgage Scheme, 2008

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        Reverse mortgage loan disbursement: periodic payments, limited lump sum tranches, or payment to annuity provider for annuity. Approved lending institutions may disburse reverse mortgage loans by periodic payments agreed with the reverse mortgagor, by lump sum tranches subject to a statutory aggregate cap, or by transferring loan proceeds, in part or whole, to an annuity sourcing institution for the provision of periodic annuity payments to the reverse mortgagor.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Reverse mortgage loan disbursement: periodic payments, limited lump sum tranches, or payment to annuity provider for annuity.

                              Approved lending institutions may disburse reverse mortgage loans by periodic payments agreed with the reverse mortgagor, by lump sum tranches subject to a statutory aggregate cap, or by transferring loan proceeds, in part or whole, to an annuity sourcing institution for the provision of periodic annuity payments to the reverse mortgagor.


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