Eligibility of HPG assistance on rental properties or co-ops.

CFR · 2024-01-01 · US · Title 7

(a) (1) Full marketable title. (2) An undivided or divided interest in the property to be repaired or rehabilitated. (3) A leasehold interest in the property to be repaired or rehabilitated. Ownership interest in the property is based on a leasehold interest. The lease must be in writing and a copy must be included in the grantee's file. The unexpired portion of the lease must not be less than 5 years and must permit the recipient to make modifications to the structure without increasing the recipient's lease cost. (4) Land assignments may be accepted as evidence of ownership only for American Indians living on a reservation, when historically the permits have been used by the tribe and have had the comparable effect of a life estate. (b) (1) The tenant must have income that meets the very low- or low-income definition. (2) The tenant must be the intended occupant of the unit, but is not required to have resided previously in the dwelling. (3) Any owner(s) who receives assistance from an HPG grantee or a member of the immediate family of the owner(s), who also resides in the unit within the dwelling to be repaired or rehabilitated is eligible to have their unit repaired or rehabilitated, if they are income eligible and meet all other requirements. (c)

official document · source cfr-2024 · id 7:§ 1944.662