24 CFR 242.6
§ 242.6 Property requirements.
United States · 24 CFR — Housing and Urban Development · Status: effective
Cite this
- Citation
- 24 CFR 242.6, § 242.6 Property requirements, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/100183
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Full text
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.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.