[§201H-48]  Exception of current owners incorporation projects.  The corporation may allow a person who is a currentowner of a dwelling unit in a multifamily housing project sponsored by thecorporation to apply for the purchase of a larger dwelling unit in a projectsponsored by the corporation if the applicant's current family size exceeds thepermissible family size for the applicant's current dwelling unit, asdetermined by prevailing county building or housing codes.  The applicant shallbe required to sell the applicant's current dwelling unit back to thecorporation.  Notwithstanding any law to the contrary, any applicant, as itpertains to for-sale housing, shall be a "qualified resident" who:

(1)  Is a citizen of the United States or a resident alien;

(2)  Is at least eighteen years of age;

(3)  Is domiciled in the State and shall physicallyreside in the dwelling unit purchased under this section;

(4)  In the case of purchase of real property in feesimple or leasehold, has a gross income sufficient to qualify for the loan tofinance the purchase; and

(5)  Except for the applicant's current residence,meets the following qualifications:

(A)  Is a person who either oneself or togetherwith the person's spouse or a household member, does not own a majorityinterest in fee simple or leasehold lands suitable for dwelling purposes, or amajority interest in lands under any trust agreement or other fiduciaryarrangement in which another person holds the legal title to the land; and

(B)  Is a person whose spouse or a householdmember does not own a majority interest in fee simple or leasehold landssuitable for dwelling purposes, or a majority interest in lands under any trustagreement or other fiduciary arrangement in which another person holds the legaltitle to the land, except when husband and wife are living apart under a decreeof separation from bed and board issued by the family court pursuant to section580‑71. [L 2006, c 180, pt of §3]