Fabio
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Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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| type | title | description | jurisdiction | corpus | kind | title_number | title_name | chapter_number | chapter_name | section | citation | status | release_point | release_date | source | source_url | source_identifier | source_file | source_hash | raw_snapshot_hash | text_hash | retrieved_at | confidence | tags | ||
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| LegalText | 12 U.S.C. § 4121 | Definitions of qualified and priority purchaser and related party rule | us | united_states_code | code_section | 12 | BANKS AND BANKING | 42 | LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOMEOWNERSHIP | 4121 | 12 U.S.C. § 4121 | current | 119-100 | 2026-06-26 | official | https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip | /us/usc/t12/s4121 | data/legal/raw/us/code/title-12/usc12.xml | 54ec682d6f121135c8f42d8ef1a3b1c3235656101ab8131ab828e8c6da2c10e8 | e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa | 67ce78278e0404ad5d06726725105985bef6f464c4d87ad937fab0e956d35f11 | 2026-07-04 | official |
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12 U.S.C. § 4121 - Definitions of qualified and priority purchaser and related party rule
Text
(a) Priority purchaser The term “priority purchaser” means (A) a resident council organized to acquire the housing in accordance with a resident homeownership program that meets the requirements of section 4121 11 So in original. Probably should be section “4116”. of this title; and (B) any nonprofit organization or State or local agency that agrees to maintain low-income affordability restrictions for the remaining useful life of the housing (as determined under section 4112(d) 22 So in original. Probably should be section “4112(c)”. of this title).
(b) Qualified purchaser The term “qualified purchaser” means any entity that agrees to maintain low-income affordability restrictions for the remaining useful life of the housing (as determined under section 4112(c) of this title), and includes for-profit entities and priority purchasers.
(c) Related parties Except as provided in subsection (d), the terms “qualified purchaser” and “priority purchaser” do not include any entity that, either directly or indirectly, is wholly or partially owned or controlled by the owner of the housing being transferred under this subchapter, is under whole or partial common control with such owner, or has any financial interest in such owner or in which such owner has any financial interest. The Secretary shall issue any regulations appropriate to implement the preceding sentence.
(d) Management exception A qualified purchaser shall not be precluded from retaining as a property management entity a company that is owned or controlled by the selling owner or a principal thereof if retention of the management company is neither a condition of sale nor part of consideration paid for sale and the property management contract is negotiated by the qualified purchaser on an arm’s length basis.
(Pub. L. 100–242, title II, § 231, as added Pub. L. 101–625, title VI, § 601(a), Nov. 28, 1990, 104 Stat. 4273; amended Pub. L. 102–550, title III, § 317(a)(6), Oct. 28, 1992, 106 Stat. 3772.)
Notes
Editorial Notes
Amendments1992—Subsec. (b). Pub. L. 102–550 substituted “4112(c)” for “4112(d)”.