Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 22 - Foreign Relations |
Chapter II - Agency for International Development |
Part 242 - MORTGAGE INSURANCE FOR HOSPITALS |
Subpart A - General Eligibility Requirements |
§ 242.6 - Property requirements.
Latest version.
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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.