Sec. 2306.851. APPLICATION. (a) This subchapter applies only to a property owner of a multifamily housing development that is insured or assisted under a program under Section 8, United States Housing Act of 1937 (42 U.S.C. Section 1437f), or that is:
(1) insured or assisted under a program under:
(A) Section 221(d)(3), National Housing Act (12 U.S.C. Section 1715l);
(B) Section 236, National Housing Act (12 U.S.C. Section 1715z-1); or
(C) Section 514, 515, or 516, Housing Act of 1949 (42 U.S.C. Section 1484, 1485, or 1486); and
(2) financed by a mortgage that is eligible for prepayment at the option of the property owner.
(b) This subchapter does not apply to the disposal of property because of:
(1) a governmental taking by eminent domain or negotiated purchase;
(2) a foreclosure action;
(3) a transfer by gift, devise, or operation of law; or
(4) a sale to a person who would be entitled to an interest in the property if the property owner died intestate.
(c) This subchapter does not apply to property included in a restructuring program with a participating administrative entity designated by the United States Department of Housing and Urban Development.
Added by Acts 2001, 77th Leg., ch. 1367, Sec. 3.07, eff. Sept. 1, 2001.
Section: Previous 2306.785 2306.786 2306.801 2306.802 2306.803 2306.804 2306.805 2306.851 2306.852 2306.853 2306.901 2306.902 2306.903 2306.904 2306.905 NextLast modified: September 28, 2016