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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 24 - Housing and Urban Development |
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Subtitle B - Regulations Relating to Housing and Urban Development |
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Chapter II - Office of Assistant Secretary for Housing - Federal Housing Commissioner, Department of Housing and Urban Development |
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SubChapter I - HUD-Owned Properties |
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Part 290 - Disposition of Multifamily Projects and Sale of HUD-Held Multifamily Mortgages |
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Subpart A - Disposition of Multifamily Projects |
§ 290.18 - Restrictions on sale to former mortgagors.
Latest version.
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§ 290.18 Restrictions on sale to former mortgagors.
The defaulting mortgagor, or any principal, successor, affiliate, or assignee thereof, on the mortgage on the property at the time of the default resulting in acquisition of the property by HUD shall not be eligible to purchase the property. A “principal” and an “affiliate” are defined as provided at 24 CFR 24.105.
[66 FR 35847, July 9, 2001]