---
kind: "section"
citation: "24 C.F.R. § 266.400"
title: "24"
number: "266.400"
heading: "Property requirements—real estate."
url: "https://uscodex.org/cfr/24/266.400"
---

# §266.400. Property requirements—real estate.


The mortgage must be on real estate held:

- (a) In fee simple;
- (b) Under a renewable lease of not less than 99 years; or
- (c) Under a lease executed by a governmental agency, or other lessor approved by the HFA, that has a term at least 10 years beyond the end of the mortgage term.

## Notes

### Authority

Authority: 12 U.S.C. 1715z-22.; 42 U.S.C. 3535(d).

### Source

Source: 59 FR 62524, Dec. 5, 1994, unless otherwise noted.