24 CFR 1000.146 - Are binding commitments for the remaining useful life of property applicable to a family member or household member who subsequently takes ownership of a homeownership unit?

Regulations last checked for updates: May 18, 2024

Title 24 - Housing and Urban Development last revised: May 07, 2024

View all text of Subpart B [§ 1000.101 - § 1000.162]

§ 1000.146 - Are binding commitments for the remaining useful life of property applicable to a family member or household member who subsequently takes ownership of a homeownership unit?

No. The transfer of a homeownership unit to a family member or household member is not subject to a binding commitment for the remaining useful life of the property. Any subsequent transfer by the family member or household member to a third party (not a family member or household member) is subject to any remaining useful life under a binding commitment.

[77 FR 71526, Dec. 3, 2012]

authority: 25 U.S.C. 4101

source: 63 FR 12349, Mar. 12, 1998, unless otherwise noted.

cite as: 24 CFR 1000.146