[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: 24CFR3.120]



[Page 18]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 3_NONDISCRIMINATION ON THE BASIS OF SEX IN EDUCATION PROGRAMS OR 

ACTIVITIES RECEIVING FEDERAL FINANCIAL ASSISTANCE--Table of Contents

 

                         Subpart A_Introduction

 

Sec.  3.120  Transfers of property.



    If a recipient sells or otherwise transfers property financed in 

whole or in part with Federal financial assistance to a transferee that 

operates any education program or activity, and the Federal share of the 

fair market value of the property is not upon such sale or transfer 

properly accounted for to the Federal Government, both the transferor 

and the transferee shall be deemed to be recipients, subject to the 

provisions of Sec. Sec.  3.205 through 3.235(a).