---
kind: "section"
citation: "24 C.F.R. § 1005.761"
title: "24"
number: "1005.761"
heading: "Fee simple properties—foreclosure or assignment with HUD approval."
url: "https://uscodex.org/cfr/24/1005.761"
---

# §1005.761. Fee simple properties—foreclosure or assignment with HUD approval.

- (a) Unless a Borrower has completed a pre-foreclosure sale or a deed-in-lieu of foreclosure in accordance with §§ [1005.753](/cfr/24/1005.753.md) and [1005.755](/cfr/24/1005.755.md), the Servicer must complete First Legal Action on the [Section 184](/cfr/24/184.md) Guaranteed Loan pursuant to [§ 1005.763](/cfr/24/1005.763.md).
- (b) Under limited circumstances, HUD may approve an assignment of a [Section 184](/cfr/24/184.md) Guaranteed Loan to HUD for fee simple land properties.

## Notes

### Authority

Authority: 12 U.S.C. 1715z-13a; 15 U.S.C. 1639c; 42 U.S.C. 3535(d).

### Source

Source: 89 FR 20056, Mar. 20, 2024; 89 FR 22084, Mar. 29, 2024, unless otherwise noted.