Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 314

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 314
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We must meet requirements
1 through 4, 8 and 9 during our entire taxable year and must meet requirement 5 during at least 335 days of a taxable year of 12 months,
or during a proportionate part of a taxable year of less than 12 months. Requirements 5 and 6 will apply to us beginning with our 2023
taxable year. If we comply with all the requirements for ascertaining the ownership of our outstanding shares in a taxable year and have
no reason to know that we violated requirement 6, we will be deemed to have satisfied requirement 6 for that taxable year. For purposes
of determining stock ownership under requirement 6, an “individual” generally includes a supplemental unemployment compensation
benefits plan, a private foundation, or a portion of a trust permanently set aside or used exclusively for charitable purposes. An “individual,”
however, generally does not include a trust that is a qualified employee pension or profit sharing trust under the U.S. federal income
tax laws, and beneficiaries of such a trust will be treated as holding our stock in proportion to their actuarial interests in the trust
for purposes of requirement 6.

Our charter provides restrictions
regarding the transfer and ownership of shares of our outstanding capital stock. See “Description of Capital Stock — Restrictions
on Ownership and Transfer.” We believe that we have issued sufficient stock with sufficient diversity of ownership to allow us to
satisfy requirements 5 and 6 above. The restrictions in our charter are intended (among other things) to assist us in continuing to satisfy
requirements 5 and 6 above. These restrictions, however, may not ensure that we will, in all cases, be able to satisfy such stock ownership
requirements. If we fail to satisfy these stock ownership requirements, we may fail to remain qualified as a REIT.

Effect of Subsidiary Entities

Qualified REIT Subsidiaries. A corporation that is a “qualified REIT subsidiary” is not treated as a corporation
separate from its parent REIT. All assets, liabilities, and items of income, deduction, and credit of a “qualified REIT subsidiary”
are treated as assets, liabilities, and items of income, deduction, and credit of the REIT. A “qualified REIT subsidiary”
is a corporation, other than a TRS, all of the stock of which is owned by the REIT. Thus, in applying the requirements described herein,
any