§ 10. Interest on loans; other terms; security; advancement of monies; payments
(a) Except as otherwise provided, all loans referred to in section 9 of this title shall be made with interest at the rate of 4 per centum per annum, and shall be payable in a period not exceeding 30 years. Loans for home purchases granted under this program shall be for a period not exceeding […]
§ 3. Acquisition or use of land for homesteads
(a) Land for homesteads is declared to be a public use, and may be acquired by the Government by condemnation proceedings through the exercise of the power of eminent domain, or by purchase, cession, transfer, exchange, lease, inheritance, or donation. No lands so acquired or held by the Government for such purpose shall be sold […]
§ 4. Priority of purchasers
The priority of purchasers of land for homesteads shall be as follows: (1) Persons who have served or are serving in the armed forces of the United States who are domiciled in the Virgin Islands and who otherwise qualify under this chapter shall be given a first priority; and (2) Persons currently owning and living […]
§ 4a. No down payment for veterans
Notwithstanding other provisions of law, veterans who qualify for purchase of homestead land under the provisions of this chapter shall not be required to make any payment of money at the time of the execution of a contract for the purchase of homestead land and for a period of 90 days thereafter, at which time […]
§ 5. Minimum selling price
The selling price determined under section 2(a)(11) of this title for land to be sold under this chapter shall be a sum of at least equal to the price paid for the land by the Government.
§ 6. Applicants for lots; form of applications
All applicants for homestead lots, except priority purchasers, shall be at least 18 years of age. Applications shall be made in writing to the Executive Director of the Virgin Islands Housing Finance Authority, stating the lot or lots required. Applications shall be indorsed by two persons of good repute.
§ 6a. Eligibility of applicant
No applicant for a plot of land shall be considered eligible if such applicant (or the spouse of such applicant from whom the applicant is not legally separated) already owns a home (other than a superficiary house) or plot of land upon which a home may be constructed; and in no event shall an applicant […]
§ 2. Powers and duties of Executive Director of the Virgin Islands Housing Finance Authority
(a) In addition to any other powers conferred upon him by this chapter or other law, the Executive Director of the Virgin Islands Housing Finance Authority, with the approval of the Governor, and on behalf of the Government of the Virgin Islands, may— (1) pledge, obligate, mortgage or otherwise encumber land, property, revenues, and income […]