You qualify for replacement housing assistance under Category C if you meet one of the three sets of requirements in the following table.
If you qualify for assistance under paragraph (a) of this section, you must sign a written grant agreement stating that, if you sell the house within 10 years of assuming ownership:
The grant under this part will be voided; and
At the time of settlement of the sale of the house, you will repay the tribe or tribal organization that operates the HIP or BIA the full cost of the house.
If you sell the house more than 10 years after you assume ownership, the following conditions apply:
You may retain 10 percent of the original cost of the house per year, beginning with the eleventh year.
If you sell the house after 20 years, you will not have to repay the tribe, tribal organization, or BIA.
A modest house provided with Category C assistance must meet the standards in the following table.
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