A mortgage, to be eligible for insurance, must be on real estate held in fee simple, or on leasehold under a lease for not less than 99 years which is renewable, or under a lease having a period of not less than 10 years to run beyond the maturity date of the mortgage.
[49 FR 21319, May 21, 1984]
24 C.F.R. § 203.37: Nature of title to realty. | Justis AI