Are binding commitments for the remaining useful life of property applicable to a family member or household member who subsequently takes ownership of a homeownership unit?

  1. Law
  2. CFR 24
  3. Housing and Urban Development
  4. Regulations Relating to Housing and Urban Development
  5. Office of Assistant Secretary for Public and Indian Housing, Department of Housing and Urban Development
  6. Native American Housing Activities
  7. Affordable Housing Activities
  8. Are binding commitments for the remaining useful life of property applicable to a family member or household member who subsequently takes ownership of a homeownership unit?

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§ 1000.146 Are binding commitments for the remaining useful life of property applicable to a family member or household member who subsequently takes ownership of a homeownership unit?

No. The transfer of a homeownership unit to a family member or household member is not subject to a binding commitment for the remaining useful life of the property. Any subsequent transfer by the family member or household member to a third party (not a family member or household member) is subject to any remaining useful life under a binding commitment.

[77 FR 71526, Dec. 3, 2012]


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