Laserfiche WebLink
Administrative Plan 7/1/2025 Page 13-19 <br />13-II.F. CHANGE IN OWNERSHIP / ASSIGNMENT OF THE HAP CONTRACT <br />[HUD-52641] <br />The HAP contract cannot be assigned to a new owner without the prior written consent of the <br />PHA. <br />An owner under a HAP contract must notify the PHA in writing prior to a change in the legal <br />ownership of the unit. The owner must supply all information as requested by the PHA. <br />Prior to approval of assignment to a new owner, the new owner must agree to be bound by and <br />comply with the HAP contract. The agreement between the new owner and the former owner <br />must be in writing and in a form that the PHA finds acceptable. The new owner must provide the <br />PHA with a copy of the executed agreement. <br />SAHA Policy <br />Assignment of the HAP of the HAP contract will be approved only if the new owner is <br />qualified to become an owner under the HCV Program according to policies in Section <br />13-I.D. of this chapter. <br />Within 14 calendar days of receiving the owner’s request, SAHA will inform the current <br />owner in writing whether the assignment may take place. SAHA must receive a signed, <br />written Transfer of Ownership Packet stating the name and address of the new HAP <br />payee and the effective date of the assignment in order to change the HAP payee under an <br />existing HAP contract. The new owner must provide the Assumption of Contract and <br />Lease to SAHA that includes, but is not limited to: <br />A copy of the escrow statement or other document showing the transfer of title <br />and/or recorded deed; <br />A copy of the owner’s IRS Form W-9, Request for Taxpayer Identification <br />Number and Certification, or the social security number of the new owner; <br />The effective date of the HAP contract assignment; <br />A new HAP contract signed by the new owner only upon new owner’s request; <br />and <br />Certification that the new owner is not a prohibited relative. <br />SAHA will only process the change of ownership with a future effective date unless HAP <br />has been held for prior months from the previous owner. <br />If the new owner does not agree to an assignment of the HAP contract, or fails to provide <br />the necessary documents, SAHA will terminate the HAP contract with the old owner. If <br />the new owner wants to offer the family a new lease, and the family elects to stay with <br />continued assistance, SAHA will process the leasing in accordance with the policies in <br />Chapter 9. <br />EXHIBIT 1