In acquiring the property or conveying the property to the Commissioner the mortgagee may arrange for the deed to be made directly to the Commissioner from the mortgagor or other grantor. The mortgagee shall be responsible for determining that such conveyance will comply with all of the provisions of this part conveying good marketable title and satisfactory title evidence.
Terms Used In 24 CFR 203.358
- Commissioner: means the Federal Housing Commissioner or his authorized representative. See 24 CFR 203.251
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Grantor: The person who establishes a trust and places property into it.
- Mortgagee: means the original lender under a mortgage and its successors and such of its assigns as are approved by the Commissioner. See 24 CFR 203.251
- Mortgagor: means the original borrower under a mortgage and his heirs, executors, administrators and assigns. See 24 CFR 203.251