§ 141.23. Residential real estate.
130 words·~1 min read·
/us/cfr/t12/s§ 141.23·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The terms residential real estate or residential real property mean:
(a)Homes (including a dwelling unit in a multi-family residential property such as a condominium or a cooperative);
(b)Combinations of homes and business property (i.e., a home used in part for business);
(c)Other real estate used for primarily residential purposes other than a home (but which may include homes);
(d)Combinations of such real estate and business property involving only minor business use (i.e., where no more than 20 percent of the total appraised value of the real estate is attributable to the business use);
(e)Farm residences and combinations of farm residences and commercial farm real estate;
(f)Property to be improved by the construction of such structures; or
(g)Leasehold interests in the above real estate.