Connecticut General Statutes 8-30i – Sales price of certain housing subject to affordable housing deed restriction or limitation of bylaws of condominium unit owners’ association
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Notwithstanding any provision of the general statutes or the bylaws of a condominium unit owners’ association, adopted under section 47-80, or any affordable housing deed restriction limiting the sales price of housing subject to such provisions or restrictions, an owner who purchased such housing on or after July 1, 2004, but before July 15, 2004, for an amount exceeding the amount specified in every such provision or restriction may sell such housing for an amount not exceeding the amount such owner paid to purchase the housing.
Terms Used In Connecticut General Statutes 8-30i
- affordable housing: means housing for which persons and families pay thirty per cent or less of their annual income, where such income is less than or equal to the area median income for the municipality in which such housing is located, as determined by the United States Department of Housing and Urban Development. See Connecticut General Statutes 8-39a
- Deed: The legal instrument used to transfer title in real property from one person to another.