Section 470. Payment to occupant with a partial ownership

A. When a displacement dwelling is owned by several persons and occupied by only some of the owners, the replacement housing payment will be the lesser of:

1. The difference between the owner-occupants' share of the acquisition cost of the acquired dwelling and the actual cost of the replacement; or

2. The difference between the total acquisition cost of the acquired dwelling and the amount determined by the district as necessary to purchase a comparable dwelling.

Generally, the circumstance of partial owner occupants arises when the ownership comes from a family inheritance, where one or more, but not all the heirs, occupy the property.

B. If the displaced partial owner-occupants rent rather than purchase a replacement dwelling, they will be entitled to receive a rent supplement payment if they rent and occupy a decent, safe and sanitary dwelling in accordance with the provisions of 24VAC30-41-510 of this chapter.

C. If unusual circumstances would create an unintended hardship on the occupants with a partial ownership, the full facts along with a recommended solution are to be submitted to the central office for consideration.

Historical Notes

Derived from Volume 18, Issue 03, eff. November 21, 2001.

Statutory Authority

§ 25.1-402 of the Code of Virginia; 42 USC § 4601 et seq.