[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

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

[CITE: 24CFR27.101]



[Page 300]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 27_NONJUDICIAL FORECLOSURE OF MULTIFAMILY AND SINGLE FAMILY MORTGAGES

--Table of Contents

 

      Subpart B_Nonjudicial Foreclosure of Single Family Mortgages

 

Sec.  27.101  Definitions.



    The definitions contained in the Statute (at 12 U.S.C. 3752) shall 

apply to this subpart, in addition to and as further clarified by the 

following definitions. As used in this subpart:

    County means a political subdivision of a State or Territory of the 

United States, created to aid in the administration of State law for the 

purpose of local self government, and includes a parish or any other 

equivalent subdivision.

    Mortgage is as defined in the Statute except that the reference to 

property as ``(real, personal or mixed)'' means ``any property (real or 

mixed real and personal).''

    Mortgage agreement is as defined in the Statute, and also means any 

other similar instrument or instruments creating the security interest 

in the real estate for the repayment of the note or debt instrument.

    Mortgagor is as defined in the Statute, except that the reference to 

``trustee'' means ``trustor.''

    Record; Recorded means to enter or entered in public land record 

systems established under State statutes for the purpose of imparting 

constructive notice to purchasers of real property for value and without 

knowledge, and includes ``register'' and ``registered'' in the instance 

of registered land, and ``file'' and its variants in the context of 

entering documents in public land records.

    Secretary means the Secretary of Housing and Urban Development, 

acting by and through any authorized designee exclusive of the 

foreclosure commissioner.

    Security Property is as defined in the statute except that the 

reference to property as ``(real, personal or mixed)'' means ``any 

property (real or mixed real and personal).''