eligible condominium property

(4) Eligible condominium property The term “eligible condominium property” means a condominium unit, as such term is defined in section 3603 of title 15 — (A) to which such Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including in its capacity as the sole owner of a subsidiary corporation of a depository institution under conservatorship or receivership, which subsidiary has as its principal business the ownership of real property); and (B) that has an appraised value that does not exceed the amount provided in section 203(b)(2)(A) of the National Housing Act [ 12 U.S.C. 1709(b)(2)(A) ] except that such amount shall not exceed $101,250 in the case of a 1-family residence, $114,000 in the case of a 2-family residence, $138,000 in the case of a 3-family residence, and $160,000 in the case of a 4-family residence.


12 USC § 1831q(p)(4)

Scoping language

For purposes of this section
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