Bill > A4973

This bill, known as the "Manufactured Home Park Protection Act," aims to strengthen the rights of resident homeowners in private residential leasehold communities, which are essentially manufactured home parks where residents own their homes but rent the land. Key provisions include expanding the opportunity for these resident homeowners to purchase their community when it's put up for sale. Landowners must now notify not only the Department of Community Affairs but also the municipal clerk, chief executive officer, and a list of non-profit organizations committed to affordable housing, in addition to the resident homeowners themselves, when they receive an offer to sell or intend to sell the community. The timeframe for resident homeowners to make a purchase offer is extended from 45 to 120 days, and they can form a "resident homeowner group" to act on their behalf. The bill also clarifies that "sale" includes leases and transfers, and introduces provisions for handling confidential information during negotiations. Furthermore, it modifies exemptions for certain property dispositions, ensuring that sales to family members are still subject to these protections unless they are made in good faith for legitimate familial purposes and not to avoid the purchase opportunity provisions. Finally, the bill allows resident homeowner groups to assign their purchase rights to entities like municipalities or non-profit organizations to ensure the community remains affordable housing.

Housing and Urban Affairs

https://www.njleg.state.nj.us/bill-search/2024/A4973