Haw. Code R. § 15-218-42 - Deferral of first option to purchase and equity sharing
The authority may defer its first option to purchase and equity sharing in the following instances:
(1) Transfer by devise, descent, or operation
of law upon the death of a joint tenant or tenant by entirety;
(2) Transfer to a relative who meets
eligibility requirements upon death of the purchaser;
(3) Transfer to spouse or children who meet
eligibility requirements;
(4)
Transfer due to a property settlement whereby the spouse who meets eligibility
requirements becomes the owner;
(5)
Transfer into an inter vivos trust in which the purchasers remain the primary
beneficiary and does not affect their rights of occupancy; and
(6) Transfer into a community land trust or
other non-profit organization established to maintain or sustain long-term
housing affordability.
Notes
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