7 CFR 3560.661
§ 3560.661 Sale or transfers.
United States · 7 CFR — Agriculture · Status: effective
Cite this
- Citation
- 7 CFR 3560.661, § 3560.661 Sale or transfers, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/30610
- Permanent ID
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Full text
(a) If a sale or transfer is to take place in conjunction with the Agency incentive offer, the sale or transfer must comply with the processing provisions of subpart I of this part.
(b) If a proposed transferee is determined not to be eligible for the transfer and assumption, the borrower will be given an additional 45 days to find another transferee.
(c) In cases where the existing owner is in program non-compliance or default, the Agency may make an offer of incentives contingent on the successful transfer of the housing to an acceptable purchaser. The Agency may offer a smaller incentive or no incentive if the borrower does not agree to transfer the project to an acceptable purchaser, or if the transfer does not take place.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.