Requires multiple dwelling building owners to provide notice to tenants and tenant associations of certain sales and provides tenant association with opportunity to purchase multiple dwelling.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill requires building owners of multiple dwellings to notify tenants and tenant associations about potential sales and gives the tenant association the opportunity to purchase the property before it’s sold. It establishes a process for tenant associations to make offers, ensuring they receive information and have a chance to match third-party offers. The bill also addresses short sales and provides guidelines for tenant associations involved in these transactions, including requirements for information and financing.
Bill text
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Document of record
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1 on record
Primary sponsor
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