Shared Ownership Property definition
Shared Ownership Property means any property acquired by the Issuer or any Charging Group Member then being occupied on shared ownership terms or in respect of which the Issuer or the relevant Charging Group Member, as the case may be, grants a lease on shared ownership terms so that the Issuer or the relevant Charging Group Member holds, or is intending to hold upon disposal on shared ownership terms, less than 100 per cent. of the beneficial (or heritable) interest in that property and the purchaser of the balance of that beneficial (or heritable) interest has the right to acquire a further portion of the Issuer's or the relevant Charging Group Member's retained beneficial (or heritable) interest;
Shared Ownership Property means any property of the Borrower which is occupied on shared ownership terms so that the Borrower holds less than 100 per cent of the beneficial interest in that property and the purchaser of the balance of that beneficial interest has the right to acquire a further portion of the Borrower's retained beneficial interest.
Shared Ownership Property means any property acquired by the Issuer then being occupied on shared ownership terms or in respect of which the Issuer grants a lease on shared ownership terms so that the Issuer holds, or is intending to hold upon disposal on shared ownership terms, less than 100 per cent. of the beneficial (or heritable) interest in that property and the purchaser of the balance of that beneficial (or heritable) interest has the right to acquire a further portion of the Issuer's retained beneficial (or heritable) interest;
Examples of Shared Ownership Property in a sentence
A brief list follows:- Bankruptcy Search Brine Search Coal Mining Search Commons Registration Search Company Search Environmental Search HM Land Registry Search HM Land Charges Search Index Map Search Local Search Tin Mining Search Water Authority/Drainage Search Seller – This is the person selling the property sometimes also known as the Vendor Shared Ownership Property – This is where a property has been bought jointly with the Council or a Housing Association.
More Definitions of Shared Ownership Property
Shared Ownership Property means any property acquired by the Issuer or any Charging Group Member then being occupied on shared ownership terms or in respect of which the Issuer or the relevant Charging Group Member, as the case may be, grants a lease on shared ownership terms so that the Issuer or the relevant Charging Group Member holds, or is intending to hold upon disposal on shared ownership terms, less than 100 per cent. of the beneficial interest in that property and the purchaser of the balance of that beneficial interest has the right to acquire a further portion of the Issuer's or the relevant Charging Group Member's retained beneficial interest;