Code of Federal Regulations (Last Updated: April 5, 2024) |
Title 24 - Housing and Urban Development |
Subtitle A - Office of the Secretary, Department of Housing and Urban Development |
Part 55 - Floodplain Management and Protection of Wetlands |
Subpart C - Procedures for Making Determinations on Floodplain Management and Protection of Wetlands |
§ 55.21 - Notification of floodplain hazard.
Latest version.
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§ 55.21 Notification of floodplain hazard.
For HUD programs under which a financial transaction for a property located in a floodplain (a 500-year floodplain for a Critical Action) is guaranteed, approved, regulated or insured, any private party participating in the transaction and any current or prospective tenant shall be informed by HUD (or by HUD's designee, e.g., a mortgagor) or a responsible entity subject to 24 CFR part 58 of the hazards of the floodplain location before the execution of documents completing the transaction.
[59 FR 19107, Apr. 21, 1994, as amended at 78 FR 68734, Nov. 15, 2013]