Shared Ownership definition
Shared Ownership means the ownership of a share in a dwelling;
Shared Ownership means you buy a share in a property with an organisation such as a housing association, to whom you will pay rent on the part you don’t own. Most homes purchased through shared ownership are leasehold.
Shared Ownership means Housing Units within the Accommodation” Development which are occupied by persons under shared ownership arrangements as defined by Section 70 (4) of the HRA 2008 where those persons have the opportunity to purchase all or substantially all the equity in the Housing Units at a later date or such other equity sharing or retention terms from time to time approved by the Council;
Examples of Shared Ownership in a sentence
Paragraphs 1 to 7 above summarise the key terms of the standard form Shared Ownership Lease issued by the Homes and Communities Agency.
Voids resulting from Shared Ownership or Low Cost Home Ownership, as stated in section 6 will need to be recorded by the RP in reports for the CDC and RP performance review meetings.
In respect of any Shared Ownership Dwellings owned and managed by an RP any Staircasing Payment received by the RP shall be applied by the RP to the provision of additional Affordable Housing within the District.
Not to lease the Shared Ownership Units unless they have first been marketed through the local "Help to Buy" agent (or the agent for any successor arrangement).
The Affordable Housing Units referred to at paragraphs 1.1 and 1.2 above shall be provided as Shared Ownership Units.
More Definitions of Shared Ownership
Shared Ownership means Affordable Housing Units made available as units for sale to Qualifying Purchasers where an RSL or the Council as the local Housing Authority or the Affordable Housing Proprietors retain a share in the ownership of the units and charge the Qualifying Purchaser an occupancy charge on that share. The terms "Shared Ownership Affordable Housing" and "Shared Ownership Affordable Housing Units" shall be construed accordingly;
Shared Ownership means subsidised housing provided by an Affordable Housing Provider for sale by way of a standard Homes England Shared Ownership Lease applicable to shared ownership accommodation granted on a premium payable on completion or raised by mortgage or charge under which the initial purchaser acquires an initial share of the equity in that Affordable Housing Unit and pays a rent element if required
Shared Ownership means any one of such units “Sinking Fund Charges” any charges required to cover the costs of replacing items or areas of a building at their expected ‘end of life’ as part of programmed repairs for that building “Social Rented Units” social rented units owned and managed by local authorities or an RP for which guideline target rents are determined through the National Rent Regime and shall bear the same meaning as described in the definition Of “Affordable housing for rent” in the NPPF and “Social Rented Unit” shall mean any one of such units “Staircase” the method by which the occupier of a Shared Ownership Unit pays a premium in order to acquire an equity (or a further equity) in such unit and "Staircasing" shall be construed accordingly “Staircasing Receipts” payments made to the RP (less reasonable costs) by a shared ownership lessee tenant or any other person for the acquisition of equity in a Shared Ownership Unit pursuant to a Staircase event “West of England Local Authorities” the Council, Bath and North East Somerset Council, North Somerset Council and South Gloucestershire Council
Shared Ownership means paying partly for a mortgage and partly rent so that, if the person moves, (s)he will get some of the proceeds from the sale of the property, according to how much of the original cost has been paid off. Include people who have paid off the mortgage portion.
Shared Ownership means housing provided by a Register Provider or the
Shared Ownership means a property available for letting under a Shared Ownership Lease
Shared Ownership means those Affordable Housing units where a fixed share of the value of the interest is available for purchase on a leasehold basis whilst the Registered Provider owns the remaining share of the value of the interest on which rent can be charged;