Bill > HB375

This bill amends the Manufactured Home Lot Rental Act to grant a right of first refusal to "resident entities," which are defined as groups representing over 50% of the tenant households in a manufactured home park, and to the "localities" (cities or counties) where the park is located, when the park owner decides to sell. When a park owner enters into a contract to sell, they must notify both resident entities and the locality, providing details of the sale and offering them the opportunity to purchase the park under the same terms. The resident entity has the first chance to buy, and if they decline, the locality has a subsequent opportunity. The bill also introduces new provisions requiring park owners to inform tenants annually of these rights and to negotiate in good faith with resident entities if they make an offer to purchase. Additionally, it mandates that the seller record an affidavit confirming compliance with these notice requirements, which serves as proof of adherence for future property transactions.

Business and Industry, Housing and Urban Affairs, Justice

https://lis.virginia.gov/bill-details/20261/HB375