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#1041547 - 09/12/08 09:17 PM "real property" definition
Frank Offline
100 Club
Joined: Jun 2007
Posts: 133
Central Arkansas
real property refers to land...right? for Reg Z purposes


Loan is for 37,000 to purchase 10 acres in the country. She doesnt pull T-I-L disclosures.


Land, to me, means real property-hence REG Z applies.

Am I wrong?

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Lending Compliance
#1041578 - 09/12/08 09:45 PM Re: "real property" definition Frank
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
No you are not wrong. If the loan is for a consumer purpose and it is secured by the acreage then Reg. Z applies.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1041683 - 09/13/08 02:01 PM Re: "real property" definition Frank
Tom at HOME Offline
Diamond Poster
Joined: Oct 2005
Posts: 1,139
The term "real property" or "real estate" encompasses land, improvements on the land, rights of way and may also include all water rights, mining and land claims and mineral interests before extraction.

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