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

Haw. Code R. § 15-218-42
Am and Comp 7/9/2018 [Eff 11/11/11; am and comp 6/25/2021] (Auth: HRS §§ 206E-4, 206E-5, 206E-7) (Imp: HRS §§ 206E-4, 206E-5, 206E-7)

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