24 CFR 401.407 - Closing conducted by PAE.

Regulations last checked for updates: May 18, 2024

Title 24 - Housing and Urban Development last revised: May 07, 2024

View all text of Subpart C [§ 401.400 - § 401.503]

§ 401.407 - Closing conducted by PAE.

After the owner has executed the Restructuring Commitment, the PAE must arrange for a closing to execute all documents necessary for implementation of the Restructuring Plan. The PAE must use standard documents approved by HUD, with modifications only as necessary to comply with applicable State or local laws, or such other modifications as are approved in writing by HUD.

authority: 12 U.S.C. 1715z-1 and 1735f-19(b); 42 U.S.C. 1437(c)(8), 1437f(t), 1437f note, and 3535(d)

source: 65 FR 15485, Mar. 22, 2000, unless otherwise noted.

cite as: 24 CFR 401.407