§ 41-09 Title Changes.
RCNY § 41-09
A Homeowner may (i) transfer title to a Homeownership Affordable Housing Unit upon Resale, or (ii) with the prior written approval of the Administering Agent, modify title to a Homeownership Affordable Housing Unit in order to add or delete a person from title due to marriage, domestic partnership, divorce, death or succession, provided that such Homeowner does not receive anything of value in connection with such modification of title, or (iii) with the prior written approval of the Administering Agent, modify title to a Homeownership Affordable Housing Unit for any other purpose approved in writing by HPD, provided that such Homeowner does not receive anything of value in connection with such modification of title. Before approving any title modifications, the Administering Agent must receive a written notarized notification from the Homeowner of his or her intent to modify title, along with documentation supporting any such proposed modification and an affirmation that no consideration in connection with such proposed modification has been or will be received.
