priority purchaser

The term “priority purchaser” means (A) a resident council organized to acquire the housing in accordance with a resident homeownership program that meets the requirements of section 4121 of this title; and (B) any nonprofit organization or State or local agency that agrees to maintain low-income affordability restrictions for the remaining useful life of the housing (as determined under section 4112(d) of this title).


12 USC § 4121(a)

Scoping language

None identified, default scope is assumed to be the parent (subchapter I) of this section.
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