(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 […]
Notwithstanding other provisions of this chapter, the Executive Director of the Virgin Islands Housing Finance Authority shall make loans for housing in accordance with the regulations of the Federal Housing Commissioner under all sections of the National Housing Act, as amended. In such cases the Executive Director of the Virgin Islands Housing Finance Authority shall […]
(a) The Authority shall collect the installments and rental fees from the holders of land or homes and in like manner and under the same conditions and by the use of the same powers which are made use of in or for the collection of property taxes. (b) In the case of any contract for […]
(a) The Executive Director of the Virgin Islands Housing Finance Authority is authorized to consent to the mortgaging of homestead land to a lending institution for the purpose of securing a construction loan by the homestead allottee, which consent may include the following: (1) Subordinating the rights of the Government under this title in the […]
The Virgin Islands Housing Finance Authority is authorized to devise a program to assist veterans of the Armed Forces of the United States who are natives of the Virgin Islands or permanent residents of the Virgin Islands to obtain loans made available to veterans by Federal law. The Virgin Islands Housing Finance Authority shall be […]
The Virgin Islands Housing Finance Authority shall acquire suitable parcels of land or it may designate parcels of land already under its jurisdiction, with the approval of the Governor and the Legislature, for exclusive allotment and sale, on terms, to qualified veterans who were born in the Virgin Islands or who entered the Armed Forces […]
The Executive Director of the Virgin Islands Housing Finance Authority may expend funds to provide loans to assist any veteran to— (1) purchase a house, including but not limited to a mobile home, house trailer, prefabricated house or manufactured house. (2) construct, improve, alter, repair or rehabilitate his home including cisterns, foundation slabs, or retaining […]
There is hereby authorized to be appropriated the sum of $1,000,000 annually from the Internal Revenue Matching Fund for five years to be spent exclusively for the Veterans Housing Loan Program.
(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 […]
(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 […]
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 […]
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 […]
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.
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.
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 […]
In the name of the Government of the Virgin Islands, and with the approval of the Governor, the Executive Director of the Virgin Islands Housing Finance Authority shall issue contracts for the purchase and sale of homestead plots or issue deeds of conveyance either in fulfilment of a contract or as a cash sale transaction. […]
(a) The Homestead and Home Loan Fund, heretofore created for the purpose of purchasing land in St. Croix, St. Thomas and St. John for homesteading and for the purpose of assisting qualified applicants to construct their homes and related purposes authorized by laws in force prior to the effective date of this Code, is continued, […]
(a) Except as otherwise provided, the Executive Director of the Virgin Islands Housing Finance Authority shall receive applications for loans not in excess of $220,000 to any one person or family residing in the same house. The Executive Director of the Virgin Islands Housing Finance Authority shall receive such applications upon forms prepared by him, […]
