An Act to guarantee a tenant’s first right of refusal
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill would give tenants the first opportunity to purchase a property if the landlord decides to sell. If the tenant declines the offer, the landlord would then be required to offer the property to the tenant’s prospective buyer. This legislation aims to provide greater stability and control for renters regarding the potential sale of their homes. It builds upon previous attempts to establish similar tenant rights.
Key provisions
- Tenants have the first right to refuse a sale offer from the landlord.
- If the tenant declines the sale, the landlord must offer the property to the tenant’s prospective buyer.
- The bill applies to residential properties.
- Landlords must notify tenants of their intent to sell.
- The right of first refusal would apply to sales of the entire property, not just individual units.
Who is affected
- Tenants
- Landlords
- Real estate developers
- Housing market participants
Notable changes
- This bill establishes a specific right for tenants to purchase their property before it is offered to outside buyers.
- It differs from existing lease agreements, which may not explicitly grant such a right.
Bill text
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Sponsors
Official sponsors from legislative records.
16 on record
Primary sponsor
Patricia D. Jehlen
Cosponsors
James B. Eldridge
James K. Hawkins
Arguments
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