1. (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. (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. (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. (4) The waste, destruction, or abandonment of the property; or
5. (5) The failure to comply with any financial provision in the affordable housing land trust agreement.

The 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:

Added by Acts 2010, c. 609, § 1, eff. Oct. 1, 2010; Acts 2010, c. 610, § 1, eff. Oct. 1, 2010.