Source: https://www.law.cornell.edu/cfr/text/38/36.4234
Timestamp: 2016-07-25 04:20:18
Document Index: 407482107

Matched Legal Cases: ['art 36', '§ 36', '§ 36', 'art 36', 'art 36', 'art 36']

38 CFR 36.4234 - Title and lien requirements. | US Law | LII / Legal Information Institute
CFR › Title 38 › Chapter I › Part 36 › Subpart A › Section 36.4234 38 CFR 36.4234 - Title and lien requirements.
§ 36.4234
Title and lien requirements.
The interest in the manufactured home acquired by the veteran at the time of purchase shall be either:
Legal title evidenced by such document as is customarily issued to the purchaser of a manufactured home in the jurisdiction in which the manufactured home is initially sited, or
A full possessory interest convertible into a legal title conforming to paragraph (a)(1) of this section upon payment in full of the guaranteed loan.
The loan must be secured by a properly recorded financing statement and security agreement or other security instrument that creates a first lien on or equivalent security interest in the manufactured home and all of the furnishings, equipment, and accessories paid for in whole or in part out of the loan proceeds.
It is the responsibility of the lender that the veteran initially obtains an interest in the manufactured home meeting the requirements of paragraph (a) of this section and to obtain and retain a security interest meeting the requirements of paragraph (b) of this section.
[36 FR 1253, Jan. 27, 1971, as amended at 46 FR 43671, Aug. 31, 1981; 58 FR 37860, July 14, 1993]
§ 36.4234 Title and lien requirements.
(a) The interest in the manufactured home acquired by the veteran at the time of purchase shall be either: (1) Legal title evidenced by such document as is customarily issued to the purchaser of a manufactured home in the jurisdiction in which the manufactured home is initially sited, or (2) A full possessory interest convertible into a legal title conforming to paragraph (a)(1) of this section upon payment in full of the guaranteed loan. (b) The loan must be secured by a properly recorded financing statement and security agreement or other security instrument that creates a first lien on or equivalent security interest in the manufactured home and all of the furnishings, equipment, and accessories paid for in whole or in part out of the loan proceeds. (c) It is the responsibility of the lender that the veteran initially obtains an interest in the manufactured home meeting the requirements of paragraph (a) of this section and to obtain and retain a security interest meeting the requirements of paragraph (b) of this section.
Title 38 published on 2015-07-01The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 38 CFR Part 36 after this date.2015-09-17; vol. 80 # 180 - Thursday, September 17, 201580 FR 55763 - Loan Guaranty—Specially Adapted Housing Assistive Technology Grant Program
typeregulations.gov FR Doc.2015-23280 RIN2900-AO70 DEPARTMENT OF VETERANS AFFAIRS Final rule. Effective Date: This rule is effective October 19, 2015. 38 CFR Part 36 SummaryThis rule adopts as final, without change, a proposed rule of the Department of Veterans Affairs (VA) to amend its regulations to provide grants for the development of new assistive technologies for use in specially adapted housing for eligible veterans or servicemembers. The Veterans&apos; Benefits Act of 2010 authorizes VA to provide grants of up to $200,000 per fiscal year to persons or entities to encourage the development of specially adapted housing assistive technologies. This final rule implements changes to VA regulations to clarify the process, the criteria, and the priorities relating to the award of these research and development grants.
2015-08-12; vol. 80 # 155 - Wednesday, August 12, 201580 FR 48254 - Loan Guaranty: Adjustable Rate Mortgage Notification Requirements and Look-Back Period
typeregulations.gov FR Doc.2015-19775 RIN2900-AP25 DEPARTMENT OF VETERANS AFFAIRS Final rule. Effective Date: This rule is effective September 11, 2015. 38 CFR Part 36 SummaryThis document adopts as final, without change, a proposed rule of the Department of Veterans Affairs (VA) to amend its regulations that govern adjustable rate mortgages made in conjunction with the Home Loan Guaranty program. These revisions align VA&apos;s disclosure and interest rate adjustment requirements with the implementing regulations of the Truth in Lending Act (TILA), as recently revised by the Consumer Financial Protection Bureau (CFPB). This rulemaking will ensure VA remains consistent with other applicable consumer finance and housing regulations governing adjustable rate mortgages.