Section 14-508 - Reversionary rightsThe reversionary rights of an affordable housing land trust as set forth in the affordable housing land trust agreement are limited to provisions that relate to:
(1) The transfer of the property to a person who is not a party to the agreement or a person who does not meet the conditions set forth in the affordable housing land trust agreement;(2) The possession of the property by a person who does not meet the conditions set forth in the affordable housing land trust agreement;(3) The transfer of an interest in the property to a person who does not meet the conditions set forth in the affordable housing land trust agreement;(4) The waste, destruction, or abandonment of the property; or(5) The failure to comply with any financial provision in the affordable housing land trust agreement.