HUD 24 CFR PART 234-2011 CONDOMINIUM OWNERSHIP MORTGAGE INSURANCE《区分所有权按揭保险》.pdf

1、343 Office of Assistant Secretary for Housing, HUD 234.1 of specified repairs and improvements after endorsement. (b) Application feeconditional commit-ment. An application-commitment fee of $3 per thousand dollars of the re-quested mortgage amount shall accom-pany an application for conditional com

2、mitment. (c) Application feefirm commitment. An application for firm commitment shall be accompanied by an applica-tion-commitment fee of $5 per thou-sand dollars of the requested mortgage amount to be insured less any amount previously received for a conditional commitment. (d) Inspection fee. Wher

3、e an applica-tion provides for the completion of re-pairs, replacements and/or improve-ments (repairs), the Commissioner will charge an inspection fee equal to one percent (1%) of the cost of the repairs. However, where the Commissioner de-termines the cost of repairs is minimal, the Commissioner ma

4、y establish a minimum inspection fee that exceeds one percent of the cost of repairs and can periodically increase or decrease this minimum fee. (e) Cross-reference. The provisions of paragraphs (f)(1) (Fee on increases), (g) (Reopening of expired commitments), (h) (Transfer fee), (i) (Refund of fee

5、s), and (j) (Fees not required) of 200.40 of this chapter apply to applications sub-mitted under subpart E of this part. 61 FR 14416, Apr. 1, 1996 PART 234CONDOMINIUM OWN-ERSHIP MORTGAGE INSURANCE Subpart AEligibility Requirements Individually Owned Units Sec. 234.1 Cross-reference. 234.3 Definition

6、s. 234.17 Mortgagor and mortgagee require-ments for maintaining flood insurance coverage. 234.26 Project requirements. 234.54 Eligibility of assigned mortgages and mortgages covering acquired property. 234.63 Location of property. 234.65 Nature of title. 234.66 Free assumability; exceptions. Subpart

7、 BContract Rights and ObligationsIndividually Owned Units 234.251 Definitions. 234.255 Cross-reference. 234.256 Substitute mortgagors. 234.259 Claim proceduregraduated pay-ment mortgages. 234.260 Assignment of mortgage and certifi-cate by mortgagee. 234.262 Exception to deed in lieu of fore-closure.

8、 234.265 Contents of deed and supporting doc-uments. 234.270 Condition of the multifamily struc-ture. 234.273 Assessment of taxes. 234.274 Certificate of tax assessment. 234.275 Certificate or statement of condi-tion. 234.280 Cancellation of hazard insurance. 234.285 Waived title objections. Subpart

9、 CEligibility Requirements ProjectsConversion Individual Sales Units 234.501 Eligibility requirements. Subpart DContract Rights and ObligationsProjects 234.751 Cross-reference. Subpart EServicing Responsibilities Individually Owned Units 234.800 Cross-reference. AUTHORITY: 12 U.S.C. 1715b and 1715y;

10、 42 U.S.C. 3535(d). SOURCE: 36 FR 24628, Dec. 22, 1971, unless otherwise noted. Subpart AEligibility Require-mentsIndividually Owned Units SOURCE: 61 FR 60161, Nov. 26, 1996, unless otherwise noted. 234.1 Cross-reference. (a) All of the provisions of subpart A of part 203 of this chapter concerning

11、eligibility requirements of mortgages covering one- to four-family dwellings under section 203 of the National Hous-ing Act (12 U.S.C. 1709) apply to mort-gages on individually owned units in-sured under section 234 of the National Housing Act (12 U.S.C. 1715y), except the following provisions: Sec.

12、 203.12 Mortgage insurance on proposed or new construction. 203.14 Builders warranty. 203.18a Solar energy system. VerDate Mar2010 10:21 May 10, 2011 Jkt 223078 PO 00000 Frm 00353 Fmt 8010 Sfmt 8010 Y:SGML223078.XXX 223078WReier-Aviles on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reprod

13、uction or networking permitted without license from IHS-,-,-344 24 CFR Ch. II (4111 Edition) 234.3 203.18c One-time or up-front mortgage in-surance premium excluded from limita-tions on maximum mortgage amounts. 203.38 Location of dwelling. 203.42 Rental properties. 203.43c Eligibility of mortgages

14、involving a dwelling unit in a cooperative housing development. 203.43d Eligibility of mortgages in certain communities. 203.43f Eligibility of mortgages covering manufactured homes. 203.43g Eligibility of mortgages in certain communities. 203.43h Eligibility of mortgages on Indian land insured purs

15、uant to section 248 of the National Housing Act. 203.43i Eligibility of mortgages on Hawaiian Home Lands insured pursuant to section 247 of the National Housing Act. 203.43j Eligibility of mortgages on Allegany Reservation of Seneca Nation of Indians. 203.50 Eligibility of rehabilitation loans. (b)

16、For the purposes of this subpart, all references in part 203 of this chapter to section 203 of the Act shall be con-strued to refer to section 234 of the Act. 61 FR 60161, Nov. 26, 1996, as amended at 64 FR 56111, Oct. 15, 1999 234.3 Definitions. The terms Act, Beginning of amortiza-tion, Commission

17、er, FHA, Insured Mort-gage, Mortgage, Mortgagee, Mortgagor, and State, as used in this part, are de-fined in 203.251 of this chapter. The following terms, as used in this part, are defined as follows: Bona fide tenants organization means an association of tenants formed by the tenants to promote the

18、ir interests in a particular project, with membership in the association open to each tenant, and all requirements of the association applying equally to every tenant. Common areas and facilities means those areas of the project and of the property upon which it is located that are for the use and e

19、njoyment of the owners of family units located in the project. The areas may include the land, roofs, main walls, elevators, staircases, lobbies, halls, parking space and community and commercial facili-ties. Conversion means the date on which all documents necessary to create a condominium under st

20、ate law (and under local law, where applicable) have been recorded, except that in the case of the Commonwealth of Puerto Rico, conversion is defined as the date on which the legal documents (which must be in compliance with applicable law) to create a condominium are presented for inscription (i.e.

21、, recordation) to the Commonwealth Office of the Property Registry. Family unit means a one-family unit including the undivided interest in the common areas and facilities, and such restricted common areas and facilities as may be designated. Project means a structure or struc-tures containing four

22、or more family units. Project mortgage means a mortgage which is or has been insured under any of the FHA multifamily housing pro-grams, other than sections 213(a)(1) and 213(a)(2) of the Act (12 U.S.C. 1715e). Restricted common areas and facilities means those areas and facilities re-stricted to a

23、particular family unit or number of family units. Tenant means the occupant(s) named in the lease or rental agreement of a housing unit in a project as of the date the condominium conversion docu-ments are properly filed for the project, or as of the date on which the occupants are notified by manag

24、ement of intent to convert the project to a condominium, whichever is earlier. 61 FR 60161, Nov. 26, 1996, as amended at 68 FR 6597, Feb. 7, 2003 234.17 Mortgagor and mortgagee re-quirements for maintaining flood insurance coverage. The maintenance of flood insurance coverage on the project by the c

25、ondo-minium association will satisfy the re-quirements of 203.16a of this chapter if such coverage protects the interest of the mortgagor in the family unit. For this purpose, the interest of the mort-gagor is defined as insurance coverage equal to the replacement cost of the project less land costs

26、. 234.26 Project requirements. No mortgage shall be eligible for in-surance unless the following require-ments are met: (a) Location of family unit. The family unit shall be located in a project that the Commissioner determines to be ac-ceptable. VerDate Mar2010 10:21 May 10, 2011 Jkt 223078 PO 0000

27、0 Frm 00354 Fmt 8010 Sfmt 8010 Y:SGML223078.XXX 223078WReier-Aviles on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-,-,-345 Office of Assistant Secretary for Housing, HUD 234.26 (b) Plan of condominium ownership. The project in

28、which the unit is located shall have been committed to a plan of condominium ownership by a deed, or other recorded instrument, that is ac-ceptable to the Commissioner. In the case of condominium documents in the Commonwealth of Puerto Rico, the Commissioner will accept documents presented for inscr

29、iption (recordation) to the Commonwealth Office of the Property Registry so long as the mort-gagor obtains a title insurance policy that reflects the condominium regime. (c) Releases. The family unit shall have been released from any mortgage covering the project or any part of the project. (d) Cert

30、ificate by mortgagee. The mort-gagee shall certify that: (1) The deed of the family unit and the deed or other recorded instrument committing the project to a plan of condominium ownership must comply with legal requirements of the jurisdic-tion. In the case of condominium docu-ments in the Commonwe

31、alth of Puerto Rico, the Department will accept docu-ments presented for inscription (rec-ordation) to the Commonwealth Office of Property Registry for certification purposes so long as the mortgagor ob-tains a title insurance policy that re-flects the condominium regime. (2) The mortgagor has good

32、market-able title to the family unit, subject only to a mortgage that is a valid first lien on the family unit. (3) The family unit is assessed and subject to assessment for taxes per-taining only to that unit. (e) Conditions and provisions. (1) The Commissioner may require such condi-tions and prov

33、isions as the Commis-sioner determines are necessary for the protection of consumers and the public interest. (2) An application for mortgage in-surance of a unit will not be approved if approval would result in less than 80 percent of the FHA-insured mortgages covering units in the project being oc

34、-cupied by mortgagors or co-mortgagors as a principal residence or a secondary residence (as these terms are defined in 203.18 of this chapter). (3) In addition to the other require-ments of this section, in order for a project to be acceptable to the Sec-retary, at least 51 percent of all family un

35、its (including units not covered by FHA-insured mortgages) must be occu-pied by the owners as a principal resi-dence or a secondary residence (as these terms are defined in 203.18 of this chapter), or must have been sold to owners who intend to meet this oc-cupancy requirement. (f) Limitations on co

36、nversion of rental housing to condominium use. With re-spect to a family unit in any project that was converted from rental hous-ing, no insurance will be provided under this section unless: (1) The conversion occurred more than one year before the application for insurance; or (2) The mortgagor or

37、comortgagor was a tenant of a unit in the rental housing project converted to condo-minium use; or (3) The conversion of the property is sponsored by a bona fide tenants orga-nization representing a majority of the households in the project. (g) Projects covered by an insured or Secretary-held mortg

38、age. In addition to the requirements contained in para-graphs (a) through (f) of this section, projects which are covered by an FHA- insured project mortgage, or by a mortgage held by the Secretary, must be in compliance with a conversion plan approved by the Commissioner. The conversion plan shall

39、provide for: (1) The termination by payment in full of the mortgage or by voluntary termination of the insurance contract covering any HUD/FHA-insured or Sec-retary-held mortgage on the project, unless the Commissioner determines that the Commissioners interests, and those of the individuals purchas

40、ing the family units, are best served by not re-quiring the termination of the insur-ance or payment in full of the mort-gage. (2) On release of a family unit from the project mortgage, payment shall be made on the outstanding balance of the project mortgage in an amount equal to the share of the ba

41、lance determined by HUD to be attributable to the fam-ily unit. (3) The project mortgagee shall cer-tify that, notwithstanding any provi-sions of the mortgage covering prepay-ment, no charge is contemplated or has VerDate Mar2010 10:21 May 10, 2011 Jkt 223078 PO 00000 Frm 00355 Fmt 8010 Sfmt 8010 Y:

42、SGML223078.XXX 223078WReier-Aviles on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-,-,-346 24 CFR Ch. II (4111 Edition) 234.26 been collected for prepayment in full of the project mortgage. (h) Projects not covered by an insured

43、 or Secretary-held mortgage. In addition to the requirements contained in para-graphs (a) through (f) of this section, projects which are not covered by an insured project mortgage or by a Sec-retary-held mortgage and which have not been approved by the Department of Veterans Affairs for its guarant

44、y, in-surance, or direct loan programs shall meet the requirements of this para-graph. Except with the approval of the Commissioner for the purpose of con-structing or converting the project in phases or stages, any special right of the declarant (as declarant and not as a unit owner) to do any or a

45、ll of the following must have expired or must have been waived in a recorded instru-ment: (1) Add land or units to the condo-minium; (2) Convert common elements into additional units or limited common elements; (3) Withdraw land from the condo-minium; (4) Use easements through the com-mon elements f

46、or the purpose of mak-ing improvements within the condo-minium or within any adjacent land; or (5) Convert a unit into two or more units, common elements, or into two or more units and common elements. (i) Notwithstanding the requirements of paragraphs (a) through (h) of this section, a loan on a si

47、ngle unit in an unapproved condominium project (spot loan) may qualify for mortgage insur-ance under this part. (1) The project must meet the fol-lowing criteria: (i) All units, common elements, and facilitiesincluding those that are part of any master associationmust have been completed, and the pr

48、oject cannot be subject to additional phasing or annexation. The project must pro-vide for undivided ownership of com-mon areas by unit owners; (ii) Control of the owners association must have been turned over to the unit purchasers, and the unit purchasers must have been in control for at least one

49、 year; (iii) At least 90 percent of the total units in the project must have been conveyed to the unit purchasers, and at least 51 percent of the total units in the project must have been conveyed to purchasers who are occupying the units as their principal residences or second homes. No single entity (the same indi-vidual, investor group, partnership, or corporation) may own more than 10 percent of the total units in the project; (iv) The unit