§ 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?
67 words·~1 min read·
/us/cfr/t24/s§ 1000.146·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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. \[77 FR 71526, Dec. 3, 2012\]