CFR > Title 24 - Housing and Urban Development > SUBTITLE B—Regulations Relating to Housing and Urban Development > CHAPTER II—OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (parts 200 to 291) > SUBCHAPTER B—MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES (parts 201 to 266) > PART 203—SINGLE FAMILY MORTGAGE INSURANCE > SUBPART C—Servicing Responsibilities (§203.500 to §203.681) > 203.671—Criteria for determining the Secretary's interest.

203.671—Criteria for determining the Secretary's interest.

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.

Code of Federal Regulations

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