(a) In the event of the closure of a manufactured home community, in whole or part, the manufactured home community owner shall:

(b) A manufactured home community owner shall consider any offer to purchase the community made by a resident association representing at least 25% of the manufactured home spaces or by a nonprofit corporation, including a community development corporation, housing authority or redevelopment authority acting at the request of the residents of at least 25% of the spaces and shall negotiate in good faith with the entity submitting the offer.

(c) A manufactured home community owner shall pay relocation expenses to the owner of any manufactured home in a manufactured home community that is closing in an amount equivalent to the cost of relocation, not to exceed the amount of $4,000 for a single section manufactured home and $6,000 for a multisection manufactured home. The amounts stated in this subsection shall be adjusted annually by the Department of Community and Economic Development to reflect any increase in the Consumer Price Index.

(d) A manufactured home community owner shall pay a minimum of $2,500 or the appraised value, whichever is greater, of any manufactured home to the resident of the manufactured home upon the closure of the community if the resident is unable or unwilling to find a reasonably suitable replacement site. The appraised value must be provided by a certified residential real estate appraiser with substantial experience in appraising manufactured homes who is mutually agreed to by the owner and the resident. If the parties cannot agree on an appraiser, each shall select an appraiser, and the two appraisers shall select the appraiser to perform the appraisal. The community owner and the resident shall each pay half of the cost for the appraisal. Notwithstanding the provisions of this subsection, the resident and the community owner may mutually agree upon a price for the sale of the manufactured home.

(e) In the event a manufactured home community is closed because of a condemnation, action in eminent domain or other governmental action, the manufactured home residents shall not be entitled to payments set forth in subsections (c) and (d), but shall be entitled to the rights and remedies available under laws relating to condemnation, eminent domain or other governmental action.

(f) A tenant who rents a manufactured home in a manufactured home community shall have the right to terminate the lease without penalty upon receiving notice of the planned closing of the community.

(g) A manufactured home resident shall not be required to remove the manufactured home from the land when a manufactured home community closes, nor shall the resident be liable for the costs of removing or disposing of the manufactured home. The manufactured home community owner may require a resident who is leaving a manufactured home in the community to assign the title to the community owner. In the event the resident refuses to make such assignment, the community owner may proceed under section 10.1.¹