View all text of Part B [§ 12891 - § 12898a]
§ 12894. Homeownership program requirements
(a) In general
(b) Affordability
(c) Eligible property
(d) Plan
A homeownership program under this part shall provide, and include a plan, for—
(1) identifying and selecting eligible families to participate in the homeownership program;
(2) providing relocation assistance to families who elect to move; and
(3) ensuring continued affordability of the property to homebuyers and homeowners.
(e) Housing quality standards
The application shall include a plan ensuring that the unit—
(1) will be free from any defects that pose a danger to health or safety before transfer of an ownership interest in, or shares representing, a unit to an eligible family; and
(2) will, not later than 2 years after the transfer to an eligible family, meet minimum housing standards established by the Secretary for the purpose of this title.2
2 So in original. See References in Text note below.
(f) Preference for acquisition of vacant units
(Pub. L. 101–625, title IV, § 444, Nov. 28, 1990, 104 Stat. 4176; Pub. L. 102–550, title I, § 181(f), Oct. 28, 1992, 106 Stat. 3736.)