Common use of Shared Ownership Clause in Contracts

Shared Ownership. staircasing sales 4.4.1 The Gross Sale Receipts must not be below the applicable proportion of a valid valuation by an Independent Qualified Valuer. 4.4.2 The eligible deductions from the Gross Sale Receipts are the Deemed Loan Debt attributable to the percentage sold, and the staircasing allowance. The valuation must be paid for by the prospective purchaser. 4.4.3 The Net Sale Receipts are used to recover the Firm Scheme Grant attributable to the staircased proportion of the dwelling plus any Firm Scheme Grant previously deferred on initial or subsequent staircasing sales in respect of other properties within the same scheme. 4.4.4 If the Net Sale Receipts are insufficient to enable the recovery of all the attributable and deferred Firm Scheme Grant, then the Shortfall of the recoverable Firm Scheme Grant may (with the GLA's consent) be deferred until the sale of a further share of that dwelling or sales of shares of any other shared ownership dwellings within the same scheme. 4.4.5 If, when the final dwelling in a scheme is staircased to outright ownership (or the maximum percentage allowable for that scheme) the total Net Sale Receipts were less than the Firm Scheme Grant recoverable, the final shortfall will be written off by the Grant Recipient (subject to the GLA's consent). 4.4.6 Where there is a deferral or write off of Firm Scheme Grant, the Grant Recipient must provide such supporting documentation and information to the GLA as the GLA may reasonably require.

Shared Ownership. staircasing sales 4.4.1 The Gross Sale Receipts gross sale receipts must not be below the applicable proportion of a valid valuation by an Independent Qualified Valuer. 4.4.2 The eligible deductions from the Gross Sale Receipts gross sale receipts are the Deemed Loan Debt attributable to the percentage sold, and the staircasing allowance. The valuation must be paid for by the prospective purchaser. 4.4.3 The Net Sale Receipts net sale receipts are used to recover the Firm Scheme Grant Financial Assistance attributable to the staircased proportion of the dwelling plus any Firm Scheme Grant Financial Assistance previously deferred on initial or subsequent staircasing sales in respect of other properties within the same scheme. 4.4.4 If the Net Sale Receipts net sales receipts are insufficient to enable the recovery of all the attributable and deferred Firm Scheme GrantFinancial Assistance, then the Shortfall shortfall of the recoverable Firm Scheme Grant Financial Assistance may (with the GLAAgency's consent) be deferred until the sale of a further share of that dwelling or sales of shares of any other shared ownership dwellings within the same scheme. 4.4.5 If, when the final dwelling in a scheme is staircased to outright ownership (or the maximum percentage allowable for that scheme) the total Net Sale Receipts net sales receipts were less than the Firm Scheme Grant Financial Assistance recoverable, the final shortfall will be written off by the Grant Recipient (subject to the GLA's consent)Landlord. 4.4.6 Where there is a deferral or write off of Firm Scheme GrantFinancial Assistance, the Grant Recipient Landlord must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.

Shared Ownership. staircasing Staircasing sales 4.4.1 The Gross Sale Receipts must not be below the applicable proportion of a valid valuation by an Independent Qualified Valuer. 4.4.2 The eligible deductions from the Gross Sale Receipts are the Deemed Loan Debt attributable to the percentage sold, and the staircasing Staircasing allowance. The valuation must be paid for by the prospective purchaser. 4.4.3 The Net Sale Receipts are used to recover the Firm Scheme Grant attributable to the staircased proportion of the dwelling plus any Firm Scheme Grant previously deferred on initial or subsequent staircasing Staircasing sales in respect of other properties within the same scheme. 4.4.4 If the Net Sale Receipts are insufficient to enable the recovery of all the attributable and deferred Firm Scheme Grant, then the Shortfall of the recoverable Firm Scheme Grant may (with the GLAAgency's consent) be deferred until the sale of a further share of that dwelling or sales of shares of any other shared ownership Shared Ownership dwellings within the same scheme. 4.4.5 If, when the final dwelling in a scheme is staircased to outright ownership (or the maximum percentage allowable for that scheme) the total Net Sale Receipts were less than the Firm Scheme Grant recoverable, the final shortfall Shortfall will be written off by the Grant Recipient (subject to the GLAAgency's consent). 4.4.6 Where there is a deferral or write off of Firm Scheme Grant, the Grant Recipient must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.

Shared Ownership. staircasing sales 4.4.1 The Gross Sale Receipts must not be below the applicable proportion of a valid valuation by an Independent Qualified Valuer. 4.4.2 The eligible deductions from the Gross Sale Receipts are the Deemed Loan Debt attributable to the percentage sold, and the staircasing allowance. The valuation must be paid for by the prospective purchaser. 4.4.3 The Net Sale Receipts are used to recover the Firm Scheme Grant FSG attributable to the staircased proportion of the dwelling plus any Firm Scheme Grant FSG previously deferred on initial or subsequent staircasing sales in respect of other properties within the same scheme. 4.4.4 If the Net Sale Receipts are insufficient to enable the recovery of all the attributable and deferred Firm Scheme GrantFSG, then the Shortfall of the recoverable Firm Scheme Grant FSG may (with the GLAAgency's consent) be deferred until the sale of a further share of that dwelling or sales of shares of any other shared ownership Shared Ownership dwellings within the same scheme. 4.4.5 If, when the final dwelling in a scheme is staircased to outright ownership (or the maximum percentage allowable for that scheme) the total Net Sale Receipts were less than the Firm Scheme Grant FSG recoverable, the final shortfall will be written off by the Grant Recipient (subject to the GLAAgency's consent). 4.4.6 Where there is a deferral or write off of Firm Scheme GrantFSG, the Grant Recipient must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.

Shared Ownership. staircasing sales 4.4.1 The Gross Sale Receipts must not be below the applicable proportion of a valid valuation by an Independent Qualified Valuer. 4.4.2 The eligible deductions from the Gross Sale Receipts are the Deemed Loan Debt attributable to the percentage sold, and the staircasing allowance. The valuation must be paid for by the prospective purchaser. 4.4.3 The Net Sale Receipts are used to recover the Firm Scheme Grant FSG attributable to the staircased proportion of the dwelling plus any Firm Scheme Grant FSG previously deferred on initial or subsequent staircasing sales in respect of other properties within the same scheme. 4.4.4 If the Net Sale Receipts are insufficient to enable the recovery of all the attributable and deferred Firm Scheme GrantFSG, then the Shortfall shortfall of the recoverable Firm Scheme Grant FSG may (with the GLAAgency's consent) be deferred until the sale of a further share of that dwelling or sales of shares of any other shared ownership dwellings within the same scheme. 4.4.5 If, when the final dwelling in a scheme is staircased to outright ownership (or the maximum percentage allowable for that scheme) the total Net Sale Receipts were less than the Firm Scheme Grant FSG recoverable, the final shortfall will be written off by the Grant Recipient (subject to the GLA's consent)Recipient. 4.4.6 Where there is a deferral or write off of Firm Scheme GrantFSG, the Grant Recipient must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.

Shared Ownership. staircasing sales 4.4.1 The Gross Sale Receipts must not be below the applicable proportion of a valid valuation by an Independent Qualified Valuer. 4.4.2 The eligible deductions from the Gross Sale Receipts are the Deemed Loan Debt attributable to the percentage sold, and the staircasing allowance. The valuation must be paid for by the prospective purchaser. 4.4.3 The Net Sale Receipts are used to recover the Firm Scheme Grant attributable to the staircased proportion of the dwelling plus any Firm Scheme Grant previously deferred on initial or subsequent staircasing sales in respect of other properties within the same scheme. 4.4.4 If the Net Sale Receipts are insufficient to enable the recovery of all the attributable and deferred Firm Scheme Grant, then the Shortfall of the recoverable Firm Scheme Grant may (with the GLAAgency's consent) be deferred until the sale of a further share of that dwelling or sales of shares of any other shared ownership dwellings within the same scheme.deferred 4.4.5 If, when the final dwelling in a scheme is staircased to outright ownership (or the maximum percentage allowable for that scheme) the total Net Sale Receipts were less than the Firm Scheme Grant recoverable, the final shortfall will be written off by the Grant Recipient (subject to the GLAAgency's consent). 4.4.6 Where there is a deferral or write off of Firm Scheme Grant, the Grant Recipient must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.

Shared Ownership. staircasing sales 4.4.1 The Gross Sale Receipts gross sale receipts must not be below the applicable proportion of a valid valuation by an Independent Qualified Valuer. 4.4.2 The eligible deductions from the Gross Sale Receipts gross sale receipts are the Deemed Loan Debt attributable to the percentage sold, and the staircasing allowance. The valuation must be paid for by the prospective purchaser. 4.4.3 The Net Sale Receipts net sale receipts are used to recover the Firm Scheme Grant FSG attributable to the staircased proportion of the dwelling plus any Firm Scheme Grant FSG previously deferred on initial or subsequent staircasing sales in respect of other properties within the same scheme. 4.4.4 If the Net Sale Receipts net sales receipts are insufficient to enable the recovery of all the attributable and deferred Firm Scheme GrantFSG, then the Shortfall shortfall of the recoverable Firm Scheme Grant FSG may (with the GLAAgency's consent) be deferred until the sale of a further share of that dwelling or sales of shares of any other shared ownership dwellings within the same scheme. 4.4.5 If, when the final dwelling in a scheme is staircased to outright ownership (or the maximum percentage allowable for that scheme) the total Net Sale Receipts net sales receipts were less than the Firm Scheme Grant FSG recoverable, the final shortfall will be written off by the Grant Recipient (subject to the GLA's consent)Recipient. 4.4.6 Where there is a deferral or write off of Firm Scheme GrantFSG, the Grant Recipient must provide such supporting documentation and information to the GLA Agency as the GLA Agency may reasonably require.