[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: 24CFR982.317]



[Page 602-603]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

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

               DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 982_SECTION 8 TENANT BASED ASSISTANCE: HOUSING CHOICE VOUCHER PROGRAM

--Table of Contents

 

                        Subpart G_Leasing a Unit

 

Sec.  982.317  Lease-purchase agreements.



    (a) A family leasing a unit with assistance under the program may 

enter into an agreement with an owner to purchase the unit. So long as 

the family is receiving such rental assistance, all requirements 

applicable to families otherwise leasing units under the tenant-based 

program apply. Any homeownership premium (e.g., increment of value 

attributable to the value of the lease-purchase right or agreement such 

as an extra monthly payment to accumulate a downpayment or reduce the 

purchase price) included in the rent to the owner that would result in a 

higher subsidy amount than would otherwise be paid by the PHA must be 

absorbed by the family.

    (b) In determining whether the rent to owner for a unit subject to a 

lease-



[[Page 603]]



purchase agreement is a reasonable amount in accordance with Sec.  

982.503, any homeownership premium paid by the family to the owner must 

be excluded when the PHA determines rent reasonableness.



[65 FR 55162, Sept. 12, 2000]