24 CFR Part 887 – Section 8 Housing Assistance Payments Programs–Family Self-Sufficiency Program
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Terms Used In 24 CFR Part 887 - Section 8 Housing Assistance Payments Programs--Family Self-Sufficiency Program
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal property: All property that is not real property.
- Statute: A law passed by a legislature.