25 CFR 256.10 - When do I qualify for Category C assistance?

§ 256.10 When do I qualify for Category C assistance?
(a) You qualify for replacement housing assistance under Category C if you meet one of the four sets of requirements in the following table.
You qualify for Category C assistance if * * * And * * * And * * *
You own the dwelling in which you are living The dwelling cannot be brought up to applicable building code standards and to standard housing condition for $35,000 or less
You lease the dwelling in which you are living Your leasehold is undivided and for not less than 25 years at the time that you receive assitance The dwelling cannot be brought up to applicable building code standards and to standard housing condition for $35,000 or less.
You do not own a dwelling You own land that is suitable for housing The land has adequate ingress and egress rights and economical access to utilities.
You do not own a dwelling You have a leasehold on land that is suitable for housing and the leasehold is undivided and for not less than 25 years at the time you receive assistance The land has adequate ingress and egress rights and economical access to utilities.
(b) If you qualify for assistance under paragraph (a) of this section, you must sign a written grant agreement stating that, if you sell the dwelling within 10 years of assuming ownership:
(1) The grant under this part will be voided; and
(2) At the time of settlement, you will repay BIA the full cost of the dwelling.
(c) If you sell the dwelling more than 10 years after you assume ownership, the following conditions apply:
(1) You may retain 10 percent of the original cost of the dwelling per year, beginning with the eleventh year.
(2) If you sell the dwelling after the first 20 years, you will not have to repay BIA.
[63 FR 10134, Mar. 2, 1998, as amended at 67 FR 77921, Dec. 20, 2002]

Title 25 published on 2014-04-01

no entries appear in the Federal Register after this date.

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