Y plan CAN be used for UF heating
A 3 port valve does spring to close position (with exception of MOMC valves) of CH port. In HW mode it does not need to close only remove the signal to heat source. If CH calling, then HW satisfied OR HW OFF will motor the valve to close the HW port
A 3 port Y valve does not spring closed - You have to drive it to the shut water position by giving it a "hot water off" signal from the timeclock, and a "hot water satisfied" from the stat.
A 3 port valve does spring to close position (with exception of MOMC valves) of CH port. In HW mode it does not need to close only remove the signal to heat source. If CH calling, then HW satisfied OR HW OFF will motor the valve to close the HW port