24 CFR 982.628 - Homeownership option: Eligible units.
(2) The unit is either a one-unit property (including a manufactured home) or a single dwelling unit in a cooperative or condominium.
(b)Purchase of home where family will not own fee title to the real property. Homeownership assistance may be provided for the purchase of a home where the family will not own fee title to the real property on which the home is located, but only if:
(1) The home is located on a permanent foundation; and
(c)PHA disapproval of seller. The PHA may not commence homeownership assistance for occupancy of a home if the PHA has been informed (by HUD or otherwise) that the seller of the home is debarred, suspended, or subject to a limited denial of participation under 2 CFR part 2424.
(d)PHA-owned units. Homeownership assistance may be provided for the purchase of a unit that is owned by the PHA that administers the assistance under the consolidated ACC (including a unit owned by an entity substantially controlled by the PHA), only if all of the following conditions are satisfied:
(1) The PHA must inform the family, both orally and in writing, that the family has the right to purchase any eligible unit and a PHA-owned unit is freely selected by the family without PHA pressure or steering;
(2) The unit is not ineligible housing;
(ii) Review of the independent inspection report, in accordance with § 982.631(b)(4);
(iii) Review of the contract of sale, in accordance with § 982.631(c); and
(e)Units not yet under construction. Families may enter into contracts of sale for units not yet under construction at the time the family enters into the contract for sale. However, the PHA shall not commence homeownership assistance for the family for that unit, unless and until:
(i) The responsible entity completed the environmental review procedures required by 24 CFR part 58, and HUD approved the environmental certification and request for release of funds prior to commencement of construction; or
(2) Construction of the unit has been completed; and
Title 24 published on 05-May-2017 03:17
The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR Part 982 after this date.