Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 256

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 256
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 than December 31, 2025 (the “Extended Revocation Date”); provided, however, that the Modified Exemption is
conditioned on the same terms as the Original Exemption, with the exception of the Extended Revocation Date.

To assist us in qualifying
and preserving our status as a REIT, among other purposes, our charter also contains limitations on the ownership and transfer of shares
of capital stock that would:

| · | result                                                                                                                             
 in our capital stock being beneficially owned by fewer than 100 persons, determined without reference to any rules of attribution; |

| · | result                                                                          
 in our company being “closely held” under the U.S. federal income tax laws; and |

| · | cause                                                                                                                               
 our company to own, actually or constructively, 9.8% or more of the ownership interests in a tenant of our real property, under the 
 U.S. federal income tax laws or otherwise fail to qualify as a REIT.                                                                |

<div align='center'>130</div>

Any attempted transfer of
our stock, which, if effective, would result in our stock being beneficially owned by fewer than 100 persons, will be null and void, with
the intended transferee acquiring no rights in such shares of stock. If any transfer of our stock occurs which, if effective, would result
in any person owning shares in violation of the other limitations described above (including the 9.8% Ownership Limitation), then that
number of shares the ownership of which otherwise would cause such person to violate such limitations, rounded up to the nearest whole
share, will automatically result in such shares being designated as shares-in-trust and transferred automatically to a trust effective
on the close of business on the business day before the purported transfer of such shares. We will designate the trustee, but it will
not be affiliated with our company. The beneficiary of the trust will be one or more charitable organizations that are named by our company.
If the transfer to the trust would not be effective for any reason to prevent a violation of the limitations on ownership and transfer,
then the transfer of that number of shares that otherwise would cause the violation will be null and void, with the intended transferee
acquiring no rights in such shares.

Shares-in-trust will remain
shares of issued and outstanding capital stock and will be entitled to the same rights and privileges as all other stock of the same class
or series, but the intended transferee will acquire no rights