(A) For owner-occupied inclusionary housing units, title may transfer because of changes in circumstance, including, without limitation, death, marriage, and divorce. Except as otherwise provided, if such a changed circumstance results in a title transfer which causes a household to become ineligible for an inclusionary housing unit, then the inclusionary housing unit must be sold to an eligible household within 180 days after title transfer occurs.
(B) Upon the death of one owner, title in the property may transfer to the surviving joint tenant without respect to the income-eligibility of the household.
(C) If, following the death of all owners of an inclusionary housing unit, title transfers to the child or children of such owners, the inclusionary housing unit must be sold to an eligible household within one year after title transfer occurs if the child or children are ineligible to own the inclusionary housing unit as determined by this chapter.
(D) Inheritance of an inclusionary unit by any other person whose household is not income-eligible shall require resale of the unit to an income-eligible household as soon as is feasible but not more than 180 days from when the estate is settled.
(Ord. 1142, passed 11-7-05)