source:
  type: regulation
  id: usda-7cfr-3555.203
  authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.203 — Ownership requirements
  description: '7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program, §3555.203 Ownership requirements.
    Captured section-complete (all subsections verbatim).

    '
obligations:
- id: usda-7cfr-3555.203-full
  canonical_id: usda-7cfr-3555.203-full
  section: 7 CFR §3555.203
  description: 'Ownership requirements: After the loan is closed, the borrower must have an acceptable ownership
    interest in the property as evidenced by one of the following:'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.203
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: 'After the loan is closed, the borrower must have an acceptable ownership interest in the property
      as evidenced by one of the following:'
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.203 (whole section) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.203-a
  canonical_id: usda-7cfr-3555.203-a
  section: 7 CFR §3555.203(a)
  description: 'Ownership requirements — (a): (a) Fee-simple ownership. Acceptable fee-simple ownership is evidenced
    by a fully marketable title with a deed vesting a fee-simple interest in the property to the borrower.'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.203
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: (a) Fee-simple ownership. Acceptable fee-simple ownership is evidenced by a fully marketable
      title with a deed vesting a fee-simple interest in the property to the borrower.
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.203 subsection (a) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
- id: usda-7cfr-3555.203-b
  canonical_id: usda-7cfr-3555.203-b
  section: 7 CFR §3555.203(b)
  description: 'Ownership requirements — (b): (b) Secured leasehold interest. Loans may be guaranteed on leasehold
    properties. If the conditions in this subsection are met: (1) The applicant is unable to obtain fee simple title
    to the property; (2) Such leaseholds are fully marketable in the area, except in the case of properties located
    on Ame…'
  type: do
  tags:
  - regulator-direct
  - gap-fill
  - section-complete
  primary_source:
    tier: 1
    authority: 7 CFR Part 3555 — USDA Single Family Housing Guaranteed Loan Program § 3555.203
    source_class: ecfr-xml
    source_url: https://www.ecfr.gov/current/title-7/subtitle-B/chapter-XXXV/part-3555
    snapshot_id: 60bd6fb03befa14c
    fetched_at: '2026-06-18T00:00:00+00:00'
    content_hash: sha256:f1f884c828bb807baf369d30e1a9479648dfa62165e28511a0730ed785181a8b
    paragraph_quote: '(b) Secured leasehold interest. Loans may be guaranteed on leasehold properties. If the conditions
      in this subsection are met: (1) The applicant is unable to obtain fee simple title to the property; (2) Such
      leaseholds are fully marketable in the area, except in the case of properties located on American Indian restricted
      land; (3) The lease has an unexpired term of at least 45 years from the date of loan closing, except in the
      case of properties located on Tribal Trust land, individual (allotted) Trust land, or Tribal restricted fee
      land, where the lease must have an unexpired term at least equal to the term of the loan. Leases on Tribal
      Trust land, individual Trust (allotted) land, or Tribal restricted fee land, for period of 25 years which
      are renewable for a second 25 year period are permissible, as are leases of a longer duration. For new energy
      efficient manufactured and modular home financing in land-lease communities operating on a nonprofit basis
      and on Tribal Trust land, the Agency will accept a lease with an unexpired term that is at least two years
      longer than the loan term; (4) The mortgage must cover both the property improvements and the leasehold interest
      in the land; (5) The leasehold estate must constitute real property, be subject to the mortgage lien, be insured
      by a title policy, be assignable or transferable and cannot be terminated except for nonpayment of lease rents;
      and (6) The lease must be recorded in the appropriate local real estate records. [78 FR 73941, December 9,
      2013, as amended at 90 FR 203, Jan. 3, 2025]'
    drafter_attestation: Verbatim (whitespace-normalized) slice of §3555.203 subsection (b) from snapshot 60bd6fb03befa14c;
      substring-verified.
  judgment: false
