Ownership Change

New Ownership

A participating property owner may not assign the HAP contract to a new owner without the prior written consent of the PHA. If the owner requests PHA consent to assign the HAP contract to a new owner, the owner shall supply any information as required by the PHA pertinent to the proposed assignment. The following documentations below are needed:

  • Recorded Grant Deed from the Recorder’s Office (or a certified stamp copy of the HUD -1 Closing Statement from the title company)
  • Property Management Agreement (if present)
  • Operating Agreement/Articles of Organization filed with the county (if owned by company)
  • HAP Contract Amendment ​
  • W-9​

Foreclosure

In the case of any foreclosure, the immediate successor in interest in the property pursuant to the foreclosure shall assume such interest subject to the lease between the prior owner and the tenant and to the HAP contract between the prior owner and the PHA for the occupied unit. This provision does not affect any State or local law that provides longer time periods or other additional protections for tenants.