[Code of Federal Regulations]

[Title 24, Volume 4]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR904.117]



[Page 320]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

CHAPTER IX--OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, 

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 904_LOW RENT HOUSING HOMEOWNERSHIP OPPORTUNITIES--Table of Contents

 

                Subpart B_Turnkey III Program Description

 

Sec.  904.117  Responsibilities of homebuyer after acquisition of 

ownership.



    After acquisition of ownership, each homeowner shall be required to 

pay to the LHA or to the homeowners association, as appropriate, a 

monthly fee for (a) the maintenance and operation of community 

facilities including utility facilities, if any, (b) the maintenance of 

grounds and other common areas and, (c) such other purposes as 

determined by the LHA or the homeowners association, as appropriate, 

including taxes and a provision for a reserve. This requirement shall be 

set out in the planned unit development or condominium documents which 

shall be recorded prior to the date of full availability, or in an LHA-

homeowner contract in this regard.