Homeownership Conversion

Section 42 of the IRS Code allows homeownership opportunities for residents of low-income housing rental developments by allowing the owners to sell to residents following the completion of the initial compliance period. To be eligible for Homeownership Conversion, a project must consist of single-family, duplexes, or townhomes. If owners elect Homeownership Conversion at the time of application, the following forms will need to be reviewed.

These forms are generic in nature and not deal specific.

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