---
kind: "section"
citation: "24 C.F.R. § 234.65"
title: "24"
number: "234.65"
heading: "Nature of title."
url: "https://uscodex.org/cfr/24/234.65"
---

# §234.65. Nature of title.


A mortgage, to be eligible for insurance, shall be on a fee interest in, or on a leasehold interest in, a one-family unit in a project including an undivided interest in the common areas and facilities, and such restricted common areas and facilities as may be designated. To be eligible, a leasehold interest shall be under a lease for not less than 99 years which is renewable, or under a lease having a period of not less than 10 years to run beyond the maturity date of the mortgage.


## Notes

### Source

Source: 61 FR 60161, Nov. 26, 1996, unless otherwise noted.

### Authority

Authority: 12 U.S.C. 1715b and 1715y; 42 U.S.C. 3535(d).

### Source

Source: 36 FR 24628, Dec. 22, 1971, unless otherwise noted.