Fair Housing
Under the Fair Housing Act, a 'housing for older persons' (55+ community) exemption requires that:
AAll residents be at least 62 years old
BAt least 80% of units be occupied by at least one person 55 or older, with policies demonstrating intent to serve that population✓ Correct
CThe community be owned by a government agency
DThe community have no residents under age 40
Explanation
The HOPA (Housing for Older Persons Act) exemption from familial status protection requires that at least 80% of occupied units have at least one person age 55 or older, plus the community must publish and follow policies that demonstrate intent to serve older persons.
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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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Community PropertyIn community property states, most property acquired during marriage is owned equally by both spouses, regardless of who paid for it.
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