HAR §15-218-42. Deferral of first option to purchase and equity sharing

The authority may defer its first option to purchase and equity sharing in the following instances: (1) Transfer by devise, descent, or operation of law upon the death of a joint tenant or tenant by entirety; (2) Transfer to a relative who meets eligibility requirements upon death of the purchaser; (3) Transfer to spouse or children who meet eligibility requirements; (4) Transfer due to a property settlement whereby the spouse who meets eligibility requirements becomes the owner; (5) Transfer into an inter vivos trust in which the purchasers remain the primary beneficiary and does not affect their rights of occupancy; and (6) Transfer into a community land trust or other non-profit organization established to maintain or sustain long-term housing 218-24 3397 §15-218-42