shared equity financing agreement
Defined in 1 place of the United States Code.
For purposes of this paragraph, the term “shared equity financing agreement” means an agreement under which—
(i) 2 or more persons acquire qualified ownership interests in a dwelling unit, and
(ii) the person (or persons) holding 1 or more of such interests—
(I) is entitled to occupy the dwelling unit for use as a principal residence, and
(II) is required to pay rent to 1 or more other persons holding qualified ownership interests in the dwelling unit.
Source
- 1994–present26 U.S.C. § 280AInternal Revenue Code · Disallowance of certain expenses in connection with business use of home, rental of vacation homes, etc. · for purposes of this section