7 CFR 763.15
§ 763.15 Taxes and insurance.
United States · 7 CFR — Agriculture · Status: effective
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- Citation
- 7 CFR 763.15, § 763.15 Taxes and insurance, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/19812
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Full text
(a) The seller will ensure that taxes and insurance on the real estate are paid timely and will provide the evidence of payment to the escrow or servicing agent.
(b) The seller will maintain flood insurance, if available, if buildings are located in a special 100-year floodplain as defined by FEMA flood hazard area maps.
(c) The seller will report any insurance claim and use of proceeds to the escrow or servicing agent.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.