### Question
How does the law define residential property?


### Answer
Under *12 U.S.C. § 1701x*, **residential property** is defined as:

> a 1-family residence, including a 1-family unit in a condominium project, a membership interest and occupancy agreement in a cooperative housing project, and a manufactured home and the lot on which the home is situated

#### Citation:
  - *12 U.S.C. § 1701x*
  - Heading: **CHAPTER 13-NATIONAL HOUSING**

