HUD HCV Guidebook § 9

Owners wishing to change ownership must70 supply all information as requested by the PHA, and the
existing owner must obtain written consent from the PHA prior to assigning a HAP contract to a new
owner. The requirements related to owner approvals also apply to changes in ownership.

The new owner must71 agree to be bound by and comply with the HAP contract. In addition, the
agreement that the new owner will comply with the HAP contract must be in a form acceptable to the
PHA. If the new owner fails to provide the PHA with an acceptable written agreement that the new
owner will comply with the HAP contract, the HAP contract terminates with the effective date of the
ownership change.

An industry best practice is to request a copy of the sales document, or other proof of transfer of
ownership. If the assisted tenancy continues, the PHA will require that the new owner submit to the
PHA a copy of the owner’s W-9 Form for tax purposes.