(a)
All of the provisions of subpart B, part 203 of this chapter covering mortgages insured under section 203 of the National Housing Act apply to mortgages insured under section 235 of the National Housing Act, except the following provisions:
(b)
The term property or each family dwelling unit as used in §§ 203.251 through 203.435 of this chapter ( part 203, subpart B) shall, when used in connection with a family unit in a condominium, be construed to include a “one-family unit and the undivided interest in the common areas and facilities.”
Code of Federal Regulations
[41 FR 1176, Jan. 6, 1976, as amended at 41 FR 42949, Sept. 29, 1976; 42 FR 29306, June 8, 1977; 47 FR 30754, July 15, 1982; 48 FR 28807, June 23, 1983; 52 FR 8070, Mar. 16, 1987; 52 FR 28470, July 30, 1987; 52 FR 48205, Dec. 21, 1987; 53 FR 9869, Mar. 28, 1988; 55 FR 34814, Aug. 24, 1990]