District of Columbia Statutes
§ 42-2505 — Deferred payment loan.
District of Columbia § 42-2505
JurisdictionDistrict of Columbia
Title 42Real Property.
Ch. 25District Government Employee Housing Assistance.
Subch. IGovernment Employer-Assisted Housing Program.
This text of District of Columbia § 42-2505 (Deferred payment loan.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
D.C. Code § 42-2505 (2026).
Text
(a)In addition to the assistance provided in § 42-2504(b) or (b-1) and § 42-2505.01 , the Department shall make available to each Participant a deferred loan of up to $20,000 to provide financial assistance for the purchase of a housing unit. The deferred payment loan shall be available only if the housing unit shall be the principal residence of the Participant.
(b)Payment of the principal may be deferred until the property is sold, transferred, or ceases to be the principal residence of the Participant.
(c)Deferred payment loans may be secured by a second deed of trust on the subject property.
(d)The deferred payment loan may be used in conjunction with the Home Purchase Assistance Program established by Chapter 26 of this title .
(e)The Department may charge interest on the loa
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Legislative History
May 9, 2000, D.C. Law 13-96, § 6, 47 DCR 1081; Mar. 2, 2007, D.C. Law 16-192, § 2012(a), 53 DCR 6899
Nearby Sections
15
§ 42-1001
“Power” defined.§ 42-1002
General power.§ 42-1003
Special power.§ 42-1004
Beneficial power.§ 42-1009
Right of grantor to reserve power.§ 42-1011
General powers in trust.§ 42-1012
Special powers in trust.Cite This Page — Counsel Stack
Bluebook (online)
District of Columbia § 42-2505, Counsel Stack Legal Research, https://law.counselstack.com/statute/dc/42-2505.