[Code of Federal Regulations]

[Title 24, Volume 2]

[Revised as of April 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR203.14]



[Page 151-152]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

 CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING 

        COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents

 

     Subpart A_Eligibility Requirements and Underwriting Procedures

 

Sec.  203.14  Builders' warranty.



    Applications relating to proposed construction must be accompanied 

by an agreement in form satisfactory to the Secretary, executed by the 

seller or builder or such other person as the Secretary may require, and 

agreeing that in the event of any sale or conveyance of the dwelling, 

within a period of one year beginning with the date of initial 

occupancy, the seller, builder, or such other person will at the time of 

such sale or conveyance deliver to the purchaser or owner of such 

property a warranty in form satisfactory to the Secretary warranting 

that the dwelling is constructed in substantial conformity with the 

plans and specifications (including amendments thereof or changes and 

variations therein which have been approved in writing by the Secretary) 

on which the Secretary has based on the valuation of the dwelling. Such 

agreement must provide that upon the sale or conveyance of the dwelling 

and delivery of the warranty, the seller, builder or such other person 

will promptly furnish the Secretary with a conformed copy of the 

warranty



[[Page 152]]



establishing by the purchaser's receipt thereon that the original 

warranty has been delivered to the purchaser in accordance with this 

section.



[57 FR 58346, Dec. 9, 1992]