### Question
How is the term priority purchaser defined?


### Answer
The term **priority purchaser** is defined in *12 U.S.C. § 4121* as the following:

> (A) a resident council organized to acquire the housing in accordance with a resident homeownership program that meets the requirements of section 4121 [1](#4121_1_target) of this title

#### Citation:
  - *12 U.S.C. § 4121*
  - Heading: **CHAPTER 42-LOW-INCOME HOUSING PRESERVATION AND RESIDENT HOMEOWNERSHIP > SUBCHAPTER I-PREPAYMENT OF MORTGAGES INSURED UNDER NATIONAL HOUSING ACT**

