25 U.S.C. § 4135: Low-income requirement and income targeting

in the case of rental housing, is made available for occupancy only by a family that is a low-income family at the time of their initial occupancy of such unit; in the case of a contract to purchase existing housing, is made available for purchase only by a family that is a low-income family at the time of purchase; in the case of a lease-purchase agreement for existing housing or for housing to be constructed, is made available for lease-purchase only by a family that is a low-income family at the time the agreement is entered into; and in the case of a contract to purchase housing to be constructed, is made available for purchase only by a family that is a low-income family at the time the contract is entered into; and recognizes any contractual or legal rights of public agencies, nonprofit sponsors, or others to take actions that would avoid termination of low-income affordability in the case of foreclosure or transfer in lieu of foreclosure; and is not for the purpose of avoiding low-income affordability restrictions, as determined by the Secretary. Notwithstanding subsection (a), housing assisted pursuant to section 4131(b)(2) of this title shall be considered affordable housing for purposes of this chapter. The provisions of paragraph (2) of subsection (a) regarding binding commitments for the remaining useful life of property shall not apply to a family or household member who subsequently takes ownership of a homeownership unit.