Tuesday Tip: March Questions & Answers

Posted On: March 28, 2023

In this week’s #TuesdayTip, we answer viewer questions from the month of March.

1.) A resident recently gave her grandson her car. Is this considered disposing of an asset for less than fair market value? NO, The HUD Handbook states that some belongings of value are not considered assets.

2.) Is Medical Marijuana permitted on HUD properties in states that have legalized it? No, Federal law supersedes State Law, and marijuana is still illegal on the Federal Level. Click Here to revisit our Live Tuesday Tip on the topic.

3.) Do I need HUD approval in order for tenants to form organizations on property? No, HUD recognizes citizen’s rights to form organizations on property. HUD provides more insight in tenant organization for property owners and managers here.

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