24 CFR 291.5 - Definitions.

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§ 291.5 Definitions.

(a) The term Secretary is defined in 24 CFR part 5.

(b) Other terms used in this part are defined as follows:

Competitive sale of individual property means a sale of an individual property to an individual bidder through a sealed bid process (or other bid process specifically authorized by the Secretary) in competition with other bidders in which properties have been publicly advertised to all prospective purchasers for bids.

Direct sale means a sale to a selected purchaser to the exclusion of all others without resorting to advertising for bids. Such a sale is available only to approved applicants.

Eligible properties means HUD-acquired properties designated by HUD for property disposition or other housing programs.

HUD means the Department of Housing and Urban Development or its contractor, as appropriate.

Insured mortgage means a mortgage insured under the National Housing Act (12 U.S.C. 1701 et seq.).

Investor purchaser means a purchaser who does not intend to use the property as his or her principal residence.

Owner-occupant purchaser means a purchaser who intends to use the property as his or her principal residence; a State, governmental entity, tribe, or agency thereof; or a private nonprofit organization as defined in this section. Governmental entities include those with general governmental powers (e.g., a city or county), as well as those with limited or special powers (e.g., public housing agencies).

Private nonprofit organization means a secular or religious organization, no part of the net earnings of which may inure to the benefit of any member, founder, contributor, or individual. The organization must:

(1) Have a voluntary board;


(i) Have a functioning accounting system that is operated in accordance with generally accepted accounting principles; or

(ii) Designate an entity that will maintain a functioning accounting system for the organization in accordance with generally accepted accounting principles;

(3) Practice nondiscrimination in the provision of assistance in accordance with the authorities described in § 291.435(a); and

(4) Have nonprofit status as demonstrated by approval under section 501(c)(3) of the Internal Revenue Code (26 U.S.C. 501(c)(3)), or demonstrate that an application for such status is currently pending approval.

State means any of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, the Northern Mariana Islands, the Trust Territory of the Pacific Islands, and any other territory or possession of the United States.

Tribe has the meaning provided for the term “Indian tribe” in section 102 of the Housing and Community Development Act of 1974 (42 U.S.C. 5302).

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code
U.S. Code: Title 12 - BANKS AND BANKING

§ 1701 - Short title

§ 1701a - Short title of amendment of 1938

§ 1701b - Short title of amendment of 1942

§ 1701c - Secretary of Housing and Urban Development

§ 1701c-1

§ 1701d - Repealed. Pub. L. 89–554, § 8(a), Sept. 6, 1966, 80 Stat. 655

§ 1701d-1

§ 1701d-3

§ 1701d-4

§ 1701e, 1701f - Repealed. Pub. L. 91–609, title V, § 503(1), Dec. 31, 1970, 84 Stat. 1785

§ 1701f-1

§ 1701g to 1701g–3 - Omitted

§ 1701g-4

§ 1701g-5

§ 1701g-5a

§ 1701g-5b

§ 1701g-5c

§ 1701h - Advisory committees; payment of transportation and other expenses

§ 1701h-1

§ 1701i, 1701i–1 - Omitted

§ 1701j - Repealed. Aug. 2, 1954, ch. 649, title VIII, § 813, 68 Stat. 647

§ 1701j-1

§ 1701j-2

§ 1701j-3

§ 1701k - Right to redeem property on which United States has lien

§ 1701l - Limitation on interest rates of insured mortgages; terms of sales

§ 1701l-1

§ 1701m - Credit and cancellation of notes transferred from Reconstruction Finance Corporation; net loss computation

§ 1701n - Reduction of vulnerability of congested urban areas to enemy attack

§ 1701o - Annual report of Secretary

§ 1701p - Contents of report to President and Congress

§ 1701p-1

§ 1701p-2

§ 1701q - Supportive housing for the elderly

§ 1701q-1

§ 1701q-2

§ 1701q-3

§ 1701r - Congressional findings respecting housing for senior citizens

§ 1701r-1

§ 1701s - Rent supplement payments for qualified lower income families

§ 1701t - Congressional affirmation of national goal of decent homes and suitable living environment for American families

§ 1701u - Economic opportunities for low- and very low-income persons

§ 1701v - Congressional findings and declaration for improved architectural design in Government housing programs

§ 1701w - Budget, debt management, and related counseling services for mortgagors; authorization of appropriations

§ 1701x - Assistance with respect to housing for low- and moderate-income families

§ 1701x-1

§ 1701x-2

§ 1701y - National Homeownership Foundation

§ 1701z - New technologies in the development of housing for lower income families

§ 1701z-1

§ 1701z-2

§ 1701z-3

§ 1701z-4

§ 1701z-5

§ 1701z-6

§ 1701z-7

§ 1701z-8

§ 1701z-9

§ 1701z-10

§ 1701z-10a

§ 1701z-11

§ 1701z-12

§ 1701z-13

§ 1701z-14

§ 1701z-15

§ 1701z-16

§ 1701z-17

§ 1709 - Insurance of mortgages

§ 1715b - Rules and regulations

§ 1751b


Title 24 published on 2015-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 291 after this date.

  • 2015-10-02; vol. 80 # 191 - Friday, October 2, 2015
    1. 80 FR 59690 - Disposition of HUD-Acquired Single Family Properties; Updating HUD's Single Family Property Disposition Regulations
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing—Federal Housing Commissioner
      Proposed rule.
      Comment Due Date: December 1, 2015.
      24 CFR Part 291