Ownership Interest in Other Residential Property. Except with respect to a non-qualified Owner permitted to purchase the Property as set forth in Section 5.1.B., if at any time the Owner also owns any interest alone or in conjunction with others in any other developed residential property, the Owner shall immediately list such other property interest for sale and sell his or her interest in such property. In the event said other property has not been sold by the Owner within one hundred (120) days of its listing required hereunder, then the Owner shall immediately list the Property for sale pursuant to the provisions of this Restriction. It is understood and agreed between the parties hereto that, in the case of an Owner whose business is the construction and sale of residential properties or the purchase and resale of such properties, the properties which constitute inventory in such Owner’s business shall not constitute “other developed residential property” as that term is used in this Article.
Ownership Interest in Other Residential Property. If at any time an Owner who is a Qualified Occupant owns any interest, alone, or in conjunction with others, in any other developed residential property within the State of Colorado, the Owner shall immediately disclose such ownership to the Town and SCHA in writing and may be required to promptly offer such other property interest for sale at market value. This prohibition concerning additional ownership shall include entities, partnerships, trusts and the like in which the Owner is either a party to the entity in any part or a trustee and or beneficiary of a trust. In the event said other property has not been sold by the Owner within one hundred twenty (120) days of its listing required hereunder, then the Owner shall immediately list his or her Restricted Unit for sale pursuant to this Restrictive Covenant. It is understood and agreed by the Parties, that the Developer is not subject to this provision prior to the initial sale of any Restricted Unit.
Ownership Interest in Other Residential Property. If at any time an Owner also owns any interest, personally or through an entity, in any other improved residential property in Colorado (excluding investment in a publicly traded REIT contained in an IRA, 401K or other retirement investment program), the Owner shall immediately list such other property interest for sale and sell his or her interest in such property. If said other property has not been sold by the Owner within one hundred eighty (180) days of its listing required hereunder, then the Owner shall immediately list the Property for resale pursuant to the Article III. “ I m p r ov ed re s i de n t i a l pro p e rt y ” i n cl u de s m o b i l e h o m e s a n d m a n u f a ct u re d h om es . I n the case of an Owner whose business is the construction and sale of residential properties, the properties which constitute inventory in such Owner’s business shall not constitute “other developed residential property” as that term is used in this Article.
Ownership Interest in Other Residential Property. At the time of application, a Household may own other improved or unimproved residential or commercial property, however, all Improved Residential Property located within a one-hundred and fifty (150) mile radius from the Housing Unit must be listed immediately for sale and sold for fair market value within one year of taking title to the Housing Unit. In the event said other Improved Residential Property has not been sold by the Owner within twelve (12) months of its listing required hereunder, then the Owner shall immediately list the Housing Unit for sale, pursuant to Section 7.1. a Land Contributor Owner or Business Owner, qualified under Section 3.3.1 g-h, is exempt from this restriction.
Ownership Interest in Other Residential Property. At the time of application, a Household may own other improved or unimproved residential or commercial property, however, all Improved Residential Property located within a seventy-five (75) mile radius from the Housing Unit
Ownership Interest in Other Residential Property. If at any time an Owner also owns any interest, alone or in conjunction with others, in any other developed residential property in the State of Colorado, the Owner shall immediately list such
Ownership Interest in Other Residential Property. If at any time an Owner also owns any interest, personally or through an entity, in any other improved residential property (excluding investment in a publicly traded REIT contained in an IRA, 401K or other retirement investment program), the Owner shall immediately list such other property interest for sale and sell his or her interest in such property. If said other property has not been sold by the Owner within one hundred eighty (180) days of its listing required hereunder, then the Owner shall immediately list the Property for resale pursuant to the Article III. I n the case of an Owner whose business is the construction and sale of residential properties, the properties which constitute inventory in such Owner’s business shall not constitute “other developed residential property” as that term is used in this Article. Nothing in the foregoing shall impose an obligation upon YVHA to verify that an Owner does not own other improved residential property.
Ownership Interest in Other Residential Property. If at any time an Owner also owns any interest, personally or through an entity, in any other improved residential property, the Owner shall immediately list such other property interest for sale and sell his or her interest in such property. If said other property has not
Ownership Interest in Other Residential Property. If, at any time the Owner also owns any other improved residential property in or out of the County, the Owner shall immediately list such other property interest for sale and sell their interest in such property. In the event said other property has not been sold by the Owner within twelve (12) months of its listing required hereunder, then the Owner shall immediately reduce the listing price of the Unit, pursuant to Section XX. of this Covenant. In the case of an Owner whose business is the construction and sale of residential properties or the purchase and resale of such properties, the properties that constitute inventory in such Owner's business shall not constitute "other residential property" as that term is used in this Section XX. A Land Contributor Owner or Business Owner, qualified under Section XX (3.3i), is exempt from this restriction.
