priority purchaser
The term “priority purchaser” means (A) a resident council organized to acquire the housing in accordance with a resident homeownership program that meets the requirements of section 4121 of this title; and (B) any nonprofit organization or State or local agency that agrees to maintain low-income affordability restrictions for the remaining useful life of the housing (as determined under section 4112(d) of this title).
Source
12 USC § 4121(a)
Scoping language
None identified, default scope is assumed to be the parent (subchapter I) of this section.