Bank Owned Property
Answer by Randy Carey, BOL Guru Guru Bio
Question: How long can a bank hold property that was purchased to construct a new branch before construction actually begins? Also, how long can a bank hold income producing property not occupied by the bank?
Answer: If you are a state bank, this is going to be determined by your state banking laws and regulations. If you are a national bank, you need to refer to 12 CFR 7.100 and 12 CFR 34.81 through 34.87.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
