Bill > H655

This bill establishes a right of first refusal for tenants in the event of a foreclosure, short sale, or deed-in-lieu of a housing accommodation. Key provisions include: 1. Owners must notify tenants of their intention to pursue a short sale or deed-in-lieu, and tenants have 60 days to express interest in exercising their right of first refusal or assign that right. 2. If at least 51% of households occupying the housing accommodation desire to receive information, the owner must notify them of any bona fide offer the mortgagee intends to accept, and those tenants have the collective right to purchase on substantially equivalent terms. 3. Similar tenant rights of first refusal apply in the event of a foreclosure auction, where at least 51% of households can submit a purchase offer to match the highest third-party bid. 4. The bill prohibits owners from evicting tenants to avoid these tenant protections, and provides tenants with remedies including damages and injunctive relief if their rights are violated. 5. The Attorney General is tasked with enforcing the law and issuing necessary regulations.

Housing and Urban Affairs

https://malegislature.gov/Bills/190/H655