24 CFR § 1005.761 - Fee simple properties—foreclosure or assignment with HUD approval.

---
identifier: "/us/cfr/t24/s1005.761"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 1005.761 - Fee simple properties—foreclosure or assignment with HUD approval."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "1005.761"
section_name: "Fee simple properties—foreclosure or assignment with HUD approval."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
part_number: "1005"
part_name: "LOAN GUARANTEES FOR INDIAN HOUSING"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1715z-13a; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)."
regulatory_source: "89 FR 20056, Mar. 20, 2024; 89 FR 22084, Mar. 29, 2024, unless otherwise noted."
cfr_part: "1005"
---


# 1005.761 Fee simple properties—foreclosure or assignment with HUD approval.

(a) Unless a Borrower has completed a pre-foreclosure sale or a deed-in-lieu of foreclosure in accordance with §§ 1005.753 and 1005.755, the Servicer must complete First Legal Action on the Section 184 Guaranteed Loan pursuant to § 1005.763.

(b) Under limited circumstances, HUD may approve an assignment of a Section 184 Guaranteed Loan to HUD for fee simple land properties.