Multifamily Property Improvement Loan [HUD] Law and Legal Definition
Pursuant to 24 CFR 201.2 [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; Subchapter B Mortgage and Loan Insurance Programs under National Housing Act and Other Authorities; Part 201 Title I Property Improvement and Manufactured Home Loans; Subpart A General], the term Multifamily Property Improvement Loan means “a loan to finance the alteration, repair, improvement, or conversion of an existing structure used or to be used as an apartment house or a dwelling for two or more families. The multifamily structure may not be owned by a corporation, partnership, or trust, unless the prior approval of the Secretary is obtained for an exception to this requirement.”
Legal Definition list
- Multifamily Property Improvement Loan [HUD]
- Multifamily Project [HUD]
- Multifamily Housing
- Multiethnic Placement Act
- Multiemployer Plan
- Multifarious Issue
- Multihandicapped
- Multijurisdictional Practice
- Multilateral Agreement on Commercial Rights of Non-Scheduled Air Services Among the Association of South East Asian Nations
- Multilateral approval [Hazardous Materials Regulations]
- Multilateral Clearing Organization
Related Legal Terms
- Abandoned Property
- Abandoned Security Property [Agriculture]
- Abandonment of Property
- Accessible Route [HUD]
- Accident Potential Zone [HUD]
- Accountable Personal Property
- Acid Contaminated Property
- Acquisition and Improvement Loan [Veterans' Relief]
- Acquisition Loan [HUD]
- Acquisition, Development and Construction (ADC) Loan
