§3712. Disposition of sale proceeds — Inbound Citations

12 U.S.C. § 3712

Code of Federal Regulations Citations

Cited by 1 regulation in the Code of Federal Regulations.

24 C.F.R. § 27.45(a) — Transfer of title and possession.

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(a) If the Secretary is the successful bidder, the foreclosure commissioner shall issue a deed to the Secretary upon receipt of the amount needed to pay the costs listed in sections 369D (1) through (3) of the Act (12 U.S.C. 3712(1) through (3)). If the Secretary is not the successful bidder, the foreclosure commissioner shall issue a deed to the purchaser upon receipt of the entire purchase price and execution by the Secretary and the purchaser of any use agreement referred to in § 27.20(e). Any covenants reflecting terms required by § 27.20 shall be contained in the commissioner's deed.