Bill > H1544

This bill establishes a municipal local option for giving tenants a first right of refusal when their rental property is being sold, whether through a standard sale, short sale, or foreclosure. The bill allows cities and towns to adopt an ordinance that provides tenants with the opportunity to purchase their housing accommodation before the owner can sell to a third party. If a tenant association representing at least 51% of the housing units chooses to exercise this right, they can select a successor entity or designee to purchase the property under specific conditions. The bill includes detailed provisions about notification requirements, purchase timelines, deposit terms, and due diligence periods. Importantly, any property purchased under this law must be maintained as long-term affordable housing, a cooperative, or a primary residence-focused condominium. The bill includes numerous exemptions, such as for small property owners, publicly assisted housing, and certain specialized housing types. It also provides enforcement mechanisms through the attorney general and allows aggrieved parties to seek damages. The legislation aims to protect tenants from displacement and provide them with an opportunity to maintain stable housing by potentially becoming property owners.

Housing and Urban Affairs

https://malegislature.gov/Bills/194/H1544