GroundRules
24 CFR 242.6: Property requirements.
Where this section sits in the code
- Title 24—Housing and Urban Development
- Subtitle B—Regulations Relating to Housing and Urban Development
- CHAPTER II—OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
- SUBCHAPTER B—MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES
- PART 242—MORTGAGE INSURANCE FOR HOSPITALS
- Subpart A—General Eligibility Requirements
The mortgage, to be eligible for insurance, shall be on property located in a state, as defined in § 242.1. The mortgage shall cover real estate in which the mortgagor has one of the following interests:
(a) A fee simple title;
(b) A lease for not less than 99 years that is renewable; or
(c) A lease having a term of not less than 50 years to run from the date the mortgage is executed.
Collected 2026-08-27T02:24:55Z. Source file · JSON