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2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 1736 Definitions us united_states_code code_section 12 BANKS AND BANKING 13 NATIONAL HOUSING 1736 12 U.S.C. § 1736 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s1736 data/legal/raw/us/code/title-12/usc12.xml e3c1d3957c4f7d13cc14f9079295338a7754e4eea074afa0e42d02c88cfa9ac2 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa 23c29d071f08b42a446499f22a79790d4c3fa5a0cf2678ca6ca2b9c6287dff62 2026-07-04 official
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12 U.S.C. § 1736 - Definitions

Text

As used in this subchapter—

(a) The term “mortgage” means a first mortgage on real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable; or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed; and the term “first mortgage” means such classes of first liens as are commonly given to secure advances on, or the unpaid purchase price of, real estate, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby.

(b) The term “mortgagee” includes the original lender under a mortgage, and his successors and assigns approved by the Secretary; and the term “mortgagor” includes the original borrower under a mortgage and his successors and assigns.

(c) The term “maturity date” means the date on which the mortgage indebtedness would be extinguished if paid in accordance with periodic payments provided for in the mortgage.

(d) The term “State” includes the several States, and Puerto Rico, the District of Columbia, Guam, and the Virgin Islands.

(June 27, 1934, ch. 847, title VI, § 601, as added Mar. 28, 1941, ch. 31, § 1, 55 Stat. 55; amended Apr. 20, 1950, ch. 94, title I, § 122, 64 Stat. 59; July 14, 1952, ch. 723, § 10(a)(2), 66 Stat. 603; Pub. L. 8670, § 10(a), June 25, 1959, 73 Stat. 142; Pub. L. 86624, § 6, July 12, 1960, 74 Stat. 411; Pub. L. 9019, § 1(a)(3), May 25, 1967, 81 Stat. 17.)

Notes

Editorial Notes

Amendments1967—Subsec. (b). Pub. L. 9019 substituted “Secretary” for “Commissioner”. 1960—Subsec. (d). Pub. L. 88624 struck out “Hawaii,” before “Puerto Rico”. 1959—Subsec. (d). Pub. L. 8670 struck out “Alaska,” before “Hawaii”. 1952—Subsec. (d). Act July 14, 1952, inserted “Guam,” after “District of Columbia,”. 1950—Act Apr. 20, 1950, substituted “Commissioner” for “Administrator” wherever appearing.

Statutory Notes and Related Subsidiaries

SeparabilityAct Mar. 28, 1941, ch. 31, § 9, 55 Stat. 62, provided that: “If any provision of this Act [enacting sections 1736 to 1742 of this title, and section 609k of Title 15, Commerce and Trade, and amending sections 371, 1430, 1702, 1706, 1707, 1713, and 1715, 1716, 1717 of this title] or the application thereof to any person or circumstances, is held invalid, the remainder of the Act, and the application of such provision to other persons or circumstances, shall not be affected thereby.”