XVI. Occupancy Criteria
- GHI is an equal housing opportunity corporation. The Right of Perpetual Use may be purchased by any person regardless of race, sex, creed, religion, age (except for minors), or national origin who meets the criteria for membership.
- GHI homes may be occupied by the member, the member's family, one unrelated adult and minor children of the unrelated adult so long as total occupancy of the unit does not exceed two persons per bedroom.
- Two unrelated adults may create a joint tenancy and hold joint membership in GHI.
- Potential members must meet the following financial criteria:
- Ability to meet monthly charges including equity loan payment (mortgage payment) if one is required; 25-35% of gross income is usually necessary, depending on other debts.
- Ability to pay a minimum 10% down payment of the purchase price, plus application and membership fees.
- Purchasers may combine their incomes to meet the purchase requirements and may include alimony, child support payments, and governmental assistance income in meeting purchase requirements.
- GHI is an owner-occupied community; in all cases, the member must occupy the unit subject to the subletting provisions of the Mutual Ownership Contract. Homes must not be sublet except in special circumstances and only with permission of the GHI Management and/or Board of Directors.
A unit is deemed to be owner-occupied if and only if at least one of the members on the Mutual Ownership Contract is living and at least one of the following is true:- The unit has a valid current Homestead Tax Credit.
- Any of the members on that Mutual Ownership Contract, or the spouse of any such member, shows proof of a valid current state Driver's License or Identification Card naming that person with that unit listed as the home address.
- The unit does not have a Homestead Tax Credit and none of the members has a valid current state Driver's License or Identification Card, but at least one of the members on that Mutual Ownership Contract show proof of 2 of the following 5 documents naming that member at that unit address: bank statement, utility bill, voter registration, auto registration, HO-6 insurance, car insurance.
- The Board of Directors votes that the unit is owner-occupied by at least one of the members on its Mutual Ownership Contract.
- No homes may be used as a business or commercial establishment. Business matters conducted from the home should not be disruptive to the court.
- A Right of Perpetual Use may be held in trust with prior approval of the Board as long as the following criteria are met:
- Each trustee of the trust must be a natural person (i.e., individual).
- Prior written permission must be obtained from the lender, if applicable.
- At all times during the term of the trust, beneficiary must have the right to occupy the unit.
- Each trustee as well as each beneficiary who has the right under the trust to occupy the unit must be approved for membership by the Board.
- Under the terms of the trust, no successor trustee may be appointed or named unless such successor is an individual, and prior to, or within thirty (30) days of any event triggering his or her obligations and duties as trustee, such successor shall be approved by the Board as a Member.
- The trust, each trustee, and each beneficiary must meet any additional conditions required by the Board to ensure compliance with the GHI Bylaws and these Rules and Regulations.
- GHI will charge the member for the actual attorney or any other third-party fees that arise from approval of ownership of the perpetual use in trust, and in addition may charge the trustee a reasonable fee for its administrative costs.
- Subject to compliance with these Rules and Regulations, the unit may be occupied by the beneficiary who has the right under the trust to occupy the unit, and no trustee is obligated to occupy the unit.
