Source: https://www.law.cornell.edu/cfr/text/24/904.119
Timestamp: 2016-02-10 23:16:17
Document Index: 598090836

Matched Legal Cases: ['art 904', '§ 904', '§ 904', '§ 904', '§ 904', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§\u202f522', '§ 1437', '§ 1437', '§ 1437', '§\u202f289', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 1437', '§ 3535']

24 CFR 904.119 - Homeowners association—condominium. | US Law | LII / Legal Information Institute
CFR › Title 24 › Chapter IX › Part 904 › Subpart B › Section 904.119 24 CFR 904.119 - Homeowners association—condominium.
§ 904.119
Homeowners association—condominium.
If the development is organized as a condominium:
The LHA at the outset shall own each condominium unit and its undivided interest in the common areas;
All the land, including that land under the housing units, shall be a part of the common areas;
The homeowners association shall own no property but shall maintain and operate the common areas for the individual owners of the condominium units except that the LHA shall be responsible for maintenance until such time as the homeowners association assumes such responsibility (see § 904.112(d));
The percentage of undivided interest attached to each condominium unit shall be based on the ratio of the value of the units to the value of all units and shall be fixed when the development is completed. This percentage shall determine the homeowner's liability for the maintenance of the common areas and facilities;
Each homeowner's vote in the homeowners association shall be identical with the percentage of undivided interest attached to his unit; and
The LHA shall not lose its majority voting interest in the association as soon as units representing 50 percent of the value of all units have been conveyed, unless the law of the state requires control to be transferred at a particular time or the LHA so desires. For voting purposes, until units representing 75 percent of the value of all units have been acquired by homeowners, the total undivided interest attributable to the homes owned by the LHA shall be multiplied by three, if such weighted voting plan is permitted by state law. Under this plan, the LHA shall continue to maintain voting control until 75 percent of the homes have been acquired by homeowners. However, at its discretion, the LHA may transfer voting control to the homeowners when units representing at least 50 percent of the value of all units have been acquired by the homeowners.
§ 904.119 Homeowners association - condominium.
If the development is organized as a condominium: (a) The LHA at the outset shall own each condominium unit and its undivided interest in the common areas; (b) All the land, including that land under the housing units, shall be a part of the common areas; (c) The homeowners association shall own no property but shall maintain and operate the common areas for the individual owners of the condominium units except that the LHA shall be responsible for maintenance until such time as the homeowners association assumes such responsibility (see § 904.112(d)); (d) The percentage of undivided interest attached to each condominium unit shall be based on the ratio of the value of the units to the value of all units and shall be fixed when the development is completed. This percentage shall determine the homeowner's liability for the maintenance of the common areas and facilities; (e) Each homeowner's vote in the homeowners association shall be identical with the percentage of undivided interest attached to his unit; and (f) The LHA shall not lose its majority voting interest in the association as soon as units representing 50 percent of the value of all units have been conveyed, unless the law of the state requires control to be transferred at a particular time or the LHA so desires. For voting purposes, until units representing 75 percent of the value of all units have been acquired by homeowners, the total undivided interest attributable to the homes owned by the LHA shall be multiplied by three, if such weighted voting plan is permitted by state law. Under this plan, the LHA shall continue to maintain voting control until 75 percent of the homes have been acquired by homeowners. However, at its discretion, the LHA may transfer voting control to the homeowners when units representing at least 50 percent of the value of all units have been acquired by the homeowners. This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.United States CodeU.S. Code: Title 42 - THE PUBLIC HEALTH AND WELFARE§ 1437 - Declaration of policy and public housing agency organization§ 1437a - Rental payments§ 1437a-1§ 1437b - Loans and commitments to make loans for low-income housing projects§ 1437c - Contributions for low-income housing projects§ 1437c-1§ 1437d - Contract provisions and requirements; loans and annual contributions§ 1437e - Designated housing for elderly and disabled families§ 1437f - Low-income housing assistance§ 1437g - Public housing Capital and Operating Funds§ 1437h - Implementation of provisions by Secretary§ 1437i - Obligations of public housing agencies; contestability; full faith and credit of United States pledged as security; tax exemption§ 1437j - Labor standards and community service requirement§ 1437j-1§ 1437k - Consortia, joint ventures, affiliates, and subsidiaries of public housing agencies§ 1437l - Repealed. Pub. L. 105–276, title V, § 522(a), Oct. 21, 1998, 112 Stat. 2564§ 1437m - Payment of non-Federal share§ 1437n - Eligibility for assisted housing§ 1437o - Repealed. Pub. L. 101–625, title II, § 289(b), Nov. 28, 1990, 104 Stat. 4128§ 1437p - Demolition and disposition of public housing§ 1437q - Financing limitations§ 1437r - Public housing resident management§ 1437s - Public housing homeownership and management opportunities§ 1437t - Authority to convert public housing to vouchers§ 1437u - Family Self-Sufficiency program§ 1437v - Demolition, site revitalization, replacement housing, and tenant-based assistance grants for projects§ 1437w - Transfer of management of certain housing to independent manager at request of residents§ 1437x - Environmental reviews§ 1437y - Provision of information to law enforcement and other agencies§ 1437z - Exchange of information with law enforcement agencies§ 1437z-1§ 1437z-2§ 1437z-3§ 1437z-4§ 1437z-5§ 1437z-6§ 1437z-7§ 1437z-8§ 1437ee§ 3535 - Administrative provisions