limited equity housing
(Also referred to as limited equity housing cooperatives, or LEHCs.) An arrangement designed to encourage low- and moderate-income families to buy their own place to live. The housing is offered for sale, usually by a nonprofit organization, at an extremely favorable price with a low down payment. Typically the housing has been built (or an apartment building has been converted) for multiple families, who then share common areas and some decision making. The catch is that, upon selling, the owner gets none of the profit if the market value of the unit has gone up. Any profit returns to the organization that built the home, which then resells the unit at an affordable price.
Category: Real Estate & Rental Property → Buying a House
Category: Real Estate & Rental Property → Selling a House

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • Housing cooperative — Not to be confused with building cooperative. 999 N. Lake Shore Drive, a coop owned residential building in Chicago, Illinois, United States …   Wikipedia

  • Mitchell-Lama Housing Program — The Mitchell Lama Housing Program is a form of housing subsidy in the state of New York. It was proposed by New York State Senator MacNeil Mitchell and Assemblyman Alfred Lama and signed into law in 1955 as The Limited Profit Housing Companies… …   Wikipedia

  • Amalgamated Housing Cooperative — Amalgamated Housing Cooperative, originally the Amalgamated Cooperative Apartment House The Amalgamated Clothing Workers of America, headed by Sidney Hillman and prodded by Cooperative housing founder, Abraham E. Kazan, took a huge leap when it… …   Wikipedia

  • Mutual Ownership Defense Housing Division — The Mutual Ownership Defense Housing Division of the Federal Works Agency part of the United States government, operating from about 1940 to 1942 under the leadership of Colonel Lawrence Westbrook, was an attempt by the United States Government,… …   Wikipedia

  • Mahindra & Mahindra Financial Services Limited — महिन्द्रा एंड महिन्द्रा फायनांशियल सर्विसेस लिमिटेड Type Public Traded as NSE:  …   Wikipedia

  • Low-Income Housing Tax Credit — The Low Income Housing Tax Credit (LIHTC; often pronounced lye tech ) is a tax credit created under the Tax Reform Act of 1986 (TRA86) that gives incentives for the utilization of private equity in the development of affordable housing aimed at… …   Wikipedia

  • National Housing and Construction Company — Limited Type Government Parastal Industry Housing Founded 1964 Headquarters Kampala, Uganda Services Construction …   Wikipedia

  • Opportunity Uganda Limited — Type Private Industry Financial Services Founded 1995 Headquarters 7A John Babiiha Avenue Kololo, Kampala, Uganda Key people …   Wikipedia

  • CMC Limited — For other uses, see CMC (disambiguation). MEON Limited Type Public Traded as BSE:  …   Wikipedia

  • United States housing bubble — The United States housing bubble is an economic bubble in many parts of the United States housing market including areas of California, Florida, New York, Michigan, the Northeast Corridor, and the Southwest markets. On a national level, housing… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”