Shared Ownership definition

Shared Ownership means the ownership of a share in a dwelling;

Shared Ownership means subsidised housing provided by an Affordable Housing Provider for sale by way of a standard Homes England Shared Ownership Lease applicable to shared ownership accommodation granted on a premium payable on completion or raised by mortgage or charge under which the initial purchaser acquires an initial share of the equity in that Affordable Housing Unit and pays a rent element if required

Shared Ownership means Housing Units within the Accommodation” Development which are occupied by persons under shared ownership arrangements as defined by Section 70 (4) of the HRA 2008 where those persons have the opportunity to purchase all or substantially all the equity in the Housing Units at a later date or such other equity sharing or retention terms from time to time approved by the Council

Examples of Shared Ownership in a sentence

• Paragraphs 1 to 7 above summarise the key terms of the standard form Shared Ownership Lease issued by the Homes and Communities Agency.

• For Shared Ownership schemes, the Firm Scheme Grant is apportioned according to the market values of the Affordable Home Ownership Dwellings at Practical Completion of the Firm Scheme.

• For Shared Ownership schemes, the FSG is apportioned according to the market values of the Affordable Home Ownership Dwellings at Practical Completion of the Firm Scheme.

• The total share in the Property now owned by the Leaseholder is [●]% Signed by the Leaseholder …………………………… Signed for and on behalf of the Landlord ……………………………… KEY INFORMATION FOR SHARED OWNERS This note is intended as a brief guide for Leaseholders (i.e. shared owners) of the key provisions of the Shared Ownership Lease.

• Voids resulting from Shared Ownership or Low Cost Home Ownership, as stated in section 6 will need to be recorded by the RP in reports for the CDC and RP performance review meetings.

More Definitions of Shared Ownership

Shared Ownership means housing provided by a Register Provider or the

Shared Ownership means any one of such units “Sinking Fund Charges” any charges required to cover the costs of replacing items or areas of a building at their expected ‘end of life’ as part of programmed repairs for that building “Social Rented Units” social rented units owned and managed by local authorities or an RP for which guideline target rents are determined through the National Rent Regime and shall bear the same meaning as described in the definition Of “Affordable housing for rent” in the NPPF and “Social Rented Unit” shall mean any one of such units “Staircase” the method by which the occupier of a Shared Ownership Unit pays a premium in order to acquire an equity (or a further equity) in such unit and "Staircasing" shall be construed accordingly “Staircasing Receipts” payments made to the RP (less reasonable costs) by a shared ownership lessee tenant or any other person for the acquisition of equity in a Shared Ownership Unit pursuant to a Staircase event “West of England Local Authorities” the Council, Bath and North East Somerset Council, North Somerset Council and South Gloucestershire Council

Shared Ownership means a shared equity scheme provided by a Registered Social Landlord which allows a purchaser to buy a share of the property (of at least 25%) and which property is held on a formal shared equity lease which accords with the Housing Corporation lease requirements (to ensure that leases are mortgageable) for persons who have an Intermediate Housing need

Shared Ownership disposal by means of a shared ownership lease which is a

Shared Ownership means a property available for letting under a Shared Ownership Lease

Shared Ownership means paying partly for a mortgage and partly rent so that, if the person moves, (s)he will get some of the proceeds from the sale of the property, according to how much of the original cost has been paid off. Include people who have paid off the mortgage portion.

Shared Ownership means Housing Units within the Accommodation” Development which are occupied by persons under shared ownership arrangements as defined by Section 70 (4) of the HRA 2008 where those persons have the opportunity to purchase all or substantially all the equity in the Housing Units at a later date or such other equity sharing or retention terms from time to time approved by the Council;