ineligible single family property
Defined in 2 places of the United States Code.
The term “ineligible single family property” means a 1- to 4-family residence (including a manufactured home)—
(I) to which the Corporation acquires title in its corporate capacity, its capacity as conservator, or its capacity as receiver (including its capacity as the sole owner of a subsidiary corporation of a depository institution under conservatorship or receivership, which subsidiary corporation has as its principal business the ownership of real property);
(II) that has an appraised value that does not exceed the applicable dollar amount limitation for the property under paragraph (9)(G)(ii)(II); and
(III) that is not an eligible single family property.
Source
- 1994–present12 U.S.C. § 1441ABanks and Banking · Thrift Depositor Protection Oversight Board and Resolution Trust Corporation · under this section
The term “ineligible single family property” means any eligible single family property to which the provisions of this section do not apply as a result of the limitations under subsection (b)(2)(A).
Source
- 2014–present12 U.S.C. § 1831QBanks and Banking · FDIC affordable housing program · for purposes of this section
The term “ineligible single family property” means any eligible single family property to which the provisions of this section do not apply as a result of the limitations under subsection (b)(2)(A) of this section.
Source
- 1994–201412 U.S.C. § 1831QBanks and Banking · FDIC affordable housing program · for purposes of this section