[Code of Federal Regulations]
[Title 26, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.25-6T]

[Page 75]
 
                       TITLE 26--INTERNAL REVENUE
 
     CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.25-6T  Form of qualified mortgage credit certificate (Temporary).

    (a) In general. Qualified mortgage credit certificates are to be 
issued on the form prescribed by the Internal Revenue Service. If no 
form is prescribed by the Internal Revenue Service, or if the form 
prescribed by the Internal Revenue Service is not readily available, the 
issuer may use its own form provided that such form contains the 
information required by this section. Each mortgage credit certificate 
must be issued in a form such that there are at least three copies of 
the form. One copy of the certificate shall be retained by the issuer; 
one copy shall be retained by the lender; and one copy shall be 
forwarded to the State official who issued the certification required by 
Sec. 1.25-4T(d), unless that State official has stated in writing that 
he does not want to receive such copies.
    (b) Required information. Each qualified mortgage credit certificate 
must include the following information:
    (1) The name, address, and TIN of the issuer,
    (2) The date of the issuer's election not to issue qualified 
mortgage bonds pursuant to which the certificate is being issued,
    (3) The number assigned to the certificate,
    (4) The name, address, and TIN of the holder of the certificate,
    (5) The certificate credit rate,
    (6) The certified indebtness amount,
    (7) The acquisition cost of the residence being acquired in 
connection with the certificate,
    (8) The average area purchase price applicable to the residence,
    (9) Whether the certificate meets the requirements of Sec. 1.25-
3T(d), relating to residence requirement,
    (10) Whether the certificate meets the requirements of Sec. 1.25-
3T(e), relating to 3-year requirement,
    (11) Whether the certificate meets the requirements of Sec. 1.25-
3T(g), relating to new mortgage requirement,
    (12) Whether the certificate meets the requirements of Sec. 1.25-
3T(i), relating to prohibited mortgages,
    (13) Whether the certificate meets the requirements of Sec. 1.25-
3T(j), relating to particular lenders,
    (14) Whether the certificate meets the requirements of Sec. 1.25-
3T(k), relating to allocations to particular developments,
    (15) Whether the certificate meets the requirements of Sec. 1.25-
3T(n), relating to interest paid to related persons,
    (16) Whether the residence in connection with which the certificate 
is issued is a targeted area residence,
    (17) The date on which a closing agreement is signed with respect to 
the certified indebtness amount,
    (18) The expiration date of the certificate,
    (19) A statement that the certificate is not transferable or a 
statement that the certificate may be transferred only if the issuer 
issues a new certificate, and
    (20) A statement, signed under penalties of perjury by an authorized 
official of the issuer or its agent, that such person has made the 
determinations specified in paragraph (b) (9) through (16).

[T.D. 8023, 50 FR 19354, May 8, 1985]