Application

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.