Qualified Purchaser [Banks & Banking] Law and Legal Definition

Pursuant to12 USCS § 4121 (b) [Title 12. Banks and Banking; Chapter 42. Low Income Housing Preservation and Resident Homeownership; Prepayment of Mortgages Insured under National Housing Act], the term qualified purchaser means “any entity that agrees to maintain low-income affordability restrictions for the remaining useful life of the housing (as determined under section 222(c) [12 USCS § 4112(c)]), and includes for-profit entities and priority purchasers.”