42 USC 12894 - Homeownership program requirements

U.S Code last checked for updates: May 17, 2024

§ 12894.

Homeownership program requirements

(a)

In general

(b)

Affordability

(c)

Eligible property

(d)

Plan

A homeownership program under this part shall provide, and include a plan, for—

(1)

identifying and selecting eligible families to participate in the homeownership program;

(2)

providing relocation assistance to families who elect to move; and

(3)

ensuring continued affordability of the property to homebuyers and homeowners.

(e)

Housing quality standards

The application shall include a plan ensuring that the unit—

(1)

will be free from any defects that pose a danger to health or safety before transfer of an ownership interest in, or shares representing, a unit to an eligible family; and

(2)

will, not later than 2 years after the transfer to an eligible family, meet minimum housing standards established by the Secretary for the purpose of this title.2

 So in original. See References in Text note below.

(f)

Preference for acquisition of vacant units

(Pub. L. 101–625, title IV, § 444, Nov. 28, 1990, 104 Stat. 4176; Pub. L. 102–550, title I, § 181(f), Oct. 28, 1992, 106 Stat. 3736.)

cite as: 42 USC 12894