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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 24 - Housing and Urban Development |
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Subtitle B - Regulations Relating to Housing and Urban Development |
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Chapter IX - Office of Assistant Secretary for Public and Indian Housing, Department of Housing and Urban Development |
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Part 904 - Low Rent Housing Homeownership Opportunities |
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Subpart B - Turnkey III Program Description |
§ 904.117 - Responsibilities of homebuyer after acquisition of ownership.
Latest version.
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§ 904.117 Responsibilities of homebuyer after acquisition of ownership.
After acquisition of ownership, each homeowner shall be required to pay to the LHA or to the homeowners association, as appropriate, a monthly fee for (a) the maintenance and operation of community facilities including utility facilities, if any, (b) the maintenance of grounds and other common areas and, (c) such other purposes as determined by the LHA or the homeowners association, as appropriate, including taxes and a provision for a reserve. This requirement shall be set out in the planned unit development or condominium documents which shall be recorded prior to the date of full availability, or in an LHA-homeowner contract in this regard.