---
kind: "section"
citation: "7 C.F.R. § 3560.661"
title: "7"
number: "3560.661"
heading: "Sale or transfers."
url: "https://uscodex.org/cfr/7/3560.661"
---

# §3560.661. Sale or transfers.

- (a) If a sale or transfer is to take place in conjunction with the Agency incentive offer, the sale or transfer must comply with the processing provisions of subpart I of this part.
- (b) If a proposed transferee is determined not to be eligible for the transfer and assumption, the borrower will be given an additional 45 days to find another transferee.
- (c) In cases where the existing owner is in program non-compliance or default, the Agency may make an offer of incentives contingent on the successful transfer of the housing to an acceptable purchaser. The Agency may offer a smaller incentive or no incentive if the borrower does not agree to transfer the project to an acceptable purchaser, or if the transfer does not take place.

## Notes

### Authority

Authority: 42 U.S.C. 1480.

### Source

Source: 69 FR 69106, Nov. 26, 2004, unless otherwise noted.