Terms Used In U.S. Code > Title 42 > Chapter 8 > Subchapter II-A - Hope for Public Housing Homeownership

• association: when used in reference to a corporation, shall be deemed to embrace the words "successors and assigns of such company or association" in like manner as if these last-named words, or words of similar import, were expressed. See 1 USC 5
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• development: means any or all undertakings necessary for planning, land acquisition, demolition, construction, or equipment, in connection with a low-income housing project. See 42 USC 1437a
• families: includes families consisting of a single person in the case of (i) an elderly person, (ii) a disabled person, (iii) a displaced person, (iv) the remaining member of a tenant family, (v) a youth described in section 1437f(x)(2)(B) of this title, and (vi) any other single persons. See 42 USC 1437a
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• income: means income from all sources of each member of the household, as determined in accordance with criteria prescribed by the Secretary, in consultation with the Secretary of Agriculture, except that any amounts not actually received by the family and any amounts which would be eligible for exclusion under section 1382b(a)(7) of this title or any deferred Department of Veterans Affairs disability benefits that are received in a lump sum amount or in prospective monthly amounts may not be considered as income under this paragraph. See 42 USC 1437a
• individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See 1 USC 8
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• low-income families: means those families whose incomes do not exceed 80 per centum of the median income for the area, as determined by the Secretary with adjustments for smaller and larger families, except that the Secretary may establish income ceilings higher or lower than 80 per centum of the median for the area on the basis of the Secretary's findings that such variations are necessary because of prevailing levels of construction costs or unusually high or low family incomes. See 42 USC 1437a
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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.
• Operating Fund: means the fund established under section 1437g(e) of this title. See 42 USC 1437a
• project: means (A) housing developed, acquired, or assisted by a public housing agency under this chapter, and (B) the improvement of any such housing. See 42 USC 1437a
• public housing: includes dwelling units in a mixed finance project that are assisted by a public housing agency with capital or operating assistance. See 42 USC 1437a
• public housing agency: means any State, county, municipality, or other governmental entity or public body (or agency or instrumentality thereof) which is authorized to engage in or assist in the development or operation of public housing, or a consortium of such entities or bodies as approved by the Secretary. See 42 USC 1437a
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Secretary: means the Secretary of Housing and Urban Development. See 42 USC 1437a
• State: includes the several States, the District of Columbia, the Commonwealth of Puerto Rico, the territories and possessions of the United States, and the Trust Territory of the Pacific Islands. See 42 USC 1437a
• writing: includes printing and typewriting and reproductions of visual symbols by photographing, multigraphing, mimeographing, manifolding, or otherwise. See 1 USC 1