24 C.F.R. § 203.671

Criteria for determining the Secretary's interest

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It is in the Secretary's interest to accept occupied conveyance when one or more of the following are met:

(a) Occupancy of the property is essential to protect it from vandalism from time of acquisition to the time of preparation for sale.

(b) The average time in inventory for HUD's unsold inventory in the residential area in which the property is located exceeds six months.

(c) With respect to multi-unit properties, the marketability of the property would be improved by retaining occupancy of one or more units.

(d) The high cost of eviction or relocation expenses makes eviction impractical.

[45 FR 59563, Sept. 10, 1980, as amended at 56 FR 46967, Sept. 16, 1991; 58 FR 54246, Oct. 20, 1993]

Notes of Decisions

Cited in 2 cases, 1985–2013 · leading case: Estep v. Manley Deas Kochalski, LLC, 942 F. Supp. 2d 758 (S.D. Ohio 2013).

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Estep v. Manley Deas Kochalski, LLC, 942 F. Supp. 2d 758 (S.D. Ohio 2013). “24 C.F.R. § 203.671 (a), (b) and (d). The regulations further provide: (a) At least 60 days, but not more than 90 days, before the date on which the mortgagee reasonably expects to acquire title to the property, the mortgagee shall notify the mortgagor and each head of household…”

Rowe v. Pierce, 622 F. Supp. 1030 (D.D.C. 1985). “674, which include agreeing to execute a lease at fair market rental on a form prescribed by HUD. 24 C.”

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