Bona Fide Tenants' Organization [HUD] Law and Legal Definition

Pursuant to 24 CFR 234.3 [Title 24 Housing and Urban Development; Subtitle B Regulations Relating to Housing and Urban Development; Chapter II Office of Assistant Secretary for Housing Federal Housing Commissioner, Department of Housing and Urban Development; Subchapter B Mortgage and Loan Insurance Programs under National Housing Act and Other Authorities; Part 234 Condominium Ownership Mortgage Insurance; Subpart A Eligibility Requirements Individually Owned Units], the term Bona Fide Tenants' Organization means “an association of tenants formed by the tenants to promote their interests in a particular project, with membership in the association open to each tenant, and all requirements of the association applying equally to every tenant.”