OAR 813-110-0037
Use of Project; Transfer of Title

(1)

The sponsoring entity and the owner of a project, including any successors, assigns or transferees shall maintain operate and maintain the project in a manner consistent with program requirements including, but not limited to its use for eligible occupants, for the term of the tax credits or twenty years, whichever is longer.

(2)

If the title to a project transfers to the lending institution because of a foreclosure, a deed-in-lieu of foreclosure or an involuntary transfer under a bankruptcy proceeding, the lending institution may dispose of the property at its sole discretion.

Source: Rule 813-110-0037 — Use of Project; Transfer of Title, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=813-110-0037.

Last Updated

Jun. 8, 2021

Rule 813-110-0037’s source at or​.us