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§ 8A-1803. Affidavits; notice; opportunity to purchase

West's Annotated Code of MarylandReal PropertyEffective: October 1, 2023

West's Annotated Code of Maryland
Real Property (Refs & Annos)
Title 8a. Mobile Home Parks (Refs & Annos)
Subtitle 18. Sale of Manufactured Housing Communities (Refs & Annos)
Effective: October 1, 2023
MD Code, Real Property, § 8A-1803
§ 8A-1803. Affidavits; notice; opportunity to purchase
Currentness
Affidavit
(a) If a community owner receives an offer to purchase the community, acceptance of that offer shall be conditioned on the purchaser filing an affidavit, recorded in the land records in the county in which the property is located, affirming that:
(1) The purchaser will allow continued use of the land as a manufactured housing community for 5 years after the date the purchase is finalized; and
(2) Rent for a lot on the property will not increase by more than 10% per year for the first 3 years after the date the purchase is finalized.
Failure to file affidavit
(b) If the purchaser fails to file an affidavit in accordance with subsection (a) of this section, acceptance by the community owner of the offer to purchase the community shall be conditioned on the community owner:
(1) Providing notice of the terms of the offer or the contract that the community owner has conditionally accepted to:
(i) Each homeowner in the manufactured housing community;
(ii) The Department of Housing and Community Development; and
(iii) The appropriate housing agency; and
(2) Providing the homeowners with the opportunity to purchase the manufactured housing community in accordance with § 8A-1804 of this subtitle.
Requirements for notice
(c) The notice required under subsection (b) of this section shall:
(1) Be posted in a public area of the manufactured housing community;
(2) Be sent by registered or certified mail to the homeowners organization; and
(3) Include the following information:
(i) The price and material terms and conditions of the offer that the community owner has conditionally accepted for the sale of the manufactured housing community with copies of any documents evidencing the price and terms and conditions;
(ii) A statement indicating that the homeowners, through a homeowners organization, may purchase the manufactured housing community by submitting an offer within 60 days of the mailing date of the notice, containing substantially similar material terms to the offer that the community owner has conditionally accepted; and
(iii) The list of organizations and county housing agencies required under § 8A-1804(g) of this subtitle.
Price and terms and conditions
(d) The price and terms and conditions stated in the notice to the homeowners must be universal and applicable to all potential buyers and may not be specific to the homeowners or their assignee.
Information to prospective purchasers
(e) Within 10 days after the date on which the community owner provides notice required under this section, the community owner shall make available to the homeowners organization the same information that the community owner provided or would have provided to other prospective purchasers.
Liability
(f) The community owner is not liable to any party to a real estate transaction for a violation of this section.

Credits

Added by Acts 2023, c. 176, § 2, eff. Oct. 1, 2023; Acts 2023, c. 177, 2, eff. Oct. 1, 2023.
MD Code, Real Property, § 8A-1803, MD REAL PROP § 8A-1803
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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