Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 361

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 361
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The present U.S. federal income
tax treatment of REITs may be modified, possibly with retroactive effect, by legislative, judicial or administrative action at any time,
which could affect the U.S. federal income tax treatment of an investment in our securities. The REIT rules are constantly under
review by persons involved in the legislative process and by the IRS and the U.S. Treasury Department, which may result in statutory changes
as well as revisions to regulations and interpretations. Additionally, several of the tax considerations described herein are currently
under review and are subject to change. Prospective securityholders are urged to consult with their tax advisors regarding the effect
of potential changes to the U.S. federal tax laws on an investment in our securities.

State and Local Taxes

We and/or you may be subject
to taxation by various states and localities, including those in which we or a stockholder transacts business, owns property or resides.
The state and local tax treatment may differ from the federal income tax treatment described above. Consequently, you should consult your
tax advisors regarding the effect of state and local tax laws upon an investment in our Series A Redeemable Preferred Stock.

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ERISA CONSIDERATIONS</div>

The following is a summary
of certain considerations associated with the acquisition and holding of our Series A Redeemable Preferred Stock by an employee benefit
plan (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended, or ERISA) that is subject
to Title I of ERISA, a plan described in, and subject to, Section 4975 of the Code, including an individual retirement account, or
IRA, or a Keogh plan, a plan subject to provisions under applicable federal, state, local, non-U.S. or other laws or regulations that
are similar to the provisions of Title I of ERISA or Section 4975 of the Code, which we refer to as “Similar Laws,”
and any entity whose underlying assets include “plan assets” by reason of any such employee benefit or retirement plan’s
investment in such entity (each of which we refer to as a “Plan”).

General Fiduciary Matters

ERISA and the Code impose
certain duties on persons who are fiduciaries of a Plan subject to Title I of ERISA or Section 4975 of the Code (an “ERISA
Plan”) and prohibit certain transactions involving the assets of an