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e-CFR data is current as of April 21, 2021

Title 24Subtitle APart 55Subpart C → §55.21


Title 24: Housing and Urban Development
PART 55—FLOODPLAIN MANAGEMENT AND PROTECTION OF WETLANDS
Subpart C—Procedures for Making Determinations on Floodplain Management and Protection of Wetlands


§55.21   Notification of floodplain hazard.

For HUD programs under which a financial transaction for a property located in a floodplain (a 500-year floodplain for a Critical Action) is guaranteed, approved, regulated or insured, any private party participating in the transaction and any current or prospective tenant shall be informed by HUD (or by HUD's designee, e.g., a mortgagor) or a responsible entity subject to 24 CFR part 58 of the hazards of the floodplain location before the execution of documents completing the transaction.

[59 FR 19107, Apr. 21, 1994, as amended at 78 FR 68734, Nov. 15, 2013]

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