Chapter 4-1 Assist the Purchase by People Themselves
Article 37-1
The public housing which bought by people with government assistant means the housing that people bought for self-use after approved by the government and loan from the financial institution which the government will pay the subsidy for partial loan interest.
The provisions of the subsidy of loan interest in the foregoing paragraph, its application qualifications, preserved rate for certain targets, processing time and procedures, purchased housing area, loan limits, loan term, computing standard, and other matters shall be determined by the Ministry of the Interior.
Article 37-2
The interest subsidy shall be terminated, if one of the following cases happens to the housing bought by people themselves under government assistance, the commercial bank which provides the loan shall return the subsidy of interest paid to the applicants by the competent authority of public housing starting from the date of the transfer or the period of failed payment to the competent authority of public housing:
1. Transfer the housing to a third party other than the spouse.
2. Failure to pay the loan principle and interest for six months.
The applicant who has the matter of Subparagraph 1 in the forgoing paragraph shall actively notify the loan-provided bank and the competent authority of public housing.
In the case of the terminated subsidy of interest pursuant to the regulation of Subparagraph 2, Paragraph 1, the loan-provided commercial bank shall restore the subsidy of interest after the applicants paid off all the loan principle and interest before the disposal of the guaranteed real estate.
Article 37-3
During the period of government’s assistance, if one of the following cases happened to the housing people purchased themselves with government assistance, after applied for guarantee changing and approved by the competent authority of public housing, they shall purchase other housing which in accordance with regulations and proceed the loan based on the loan balance and left time limit which are lower than the original loan:
1. The housing shall be removed for public constructions or urban renewal.
2. The housing is damaged by natural disasters.
3. The housing is evaluated as unsafe.