preexisting tenant
Defined in 1 place of the United States Code.
The term “preexisting tenant” means, with respect to a multifamily housing project acquired pursuant to this section by a purchaser other than the Secretary at foreclosure or after sale by the Secretary, a family that resides in a unit in the project immediately before the acquisition of the project by the purchaser.
Source
- 1994–present12 U.S.C. § 1701ZBanks and Banking · Management and disposition of multifamily housing projects · for purposes of this section