CFR > Title 7 - Agriculture > SUBTITLE B—Regulations of the Department of Agriculture > CHAPTER XVIII—RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE SERVICE, RURAL UTILITIES SERVICE, AND FARM SERVICE AGENCY, DEPARTMENT OF AGRICULTURE (parts 1804 to 2045) > SUBCHAPTER H—PROGRAM REGULATIONS (parts 1900 to 1981) > PART 1980—GENERAL > SUBPART D—Rural Housing Loans (§1980.301 to §1980.400) > 1980.367—Unauthorized sale or transfer of the property.

1980.367—Unauthorized sale or transfer of the property.

RHS consent is required to continue with the RHS guarantee in the event of a sale or transfer of the property in accordance with § 1980.366. If the property is transferred without RHS consent, the Lender must take one of the following actions:
(a) Obtain RHS consent if the conditions of § 1980.366 can be met;
(b) Satisfy the RHS guarantee and continue with the loan without the loan note guarantee; or
(c) Notify the borrower and the transferee of the default and service the loan in accordance with § 1980.371.