Fair Housing
Under the Fair Housing Act, providing housing for senior citizens (55+ communities) is exempt from familial status requirements if:
AAll residents are over 62
BAt least 80% of occupied units have at least one resident 55 or older, and the community publishes policies demonstrating senior housing intent✓ Correct
CThe community was built before 1968
DThe community is government-owned
Explanation
The 55+ housing exemption from familial status requirements requires: (1) at least 80% of occupied units have one resident age 55+, (2) the facility publishes and adheres to policies demonstrating intent to house 55+ persons, and (3) it complies with HUD's verification procedures.
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Key Terms to Know
Fair Housing Act
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
BlockbustingAn illegal practice of inducing homeowners to sell by claiming that the entry of minority groups will lower property values.
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