§ 31-44-3.1 Sale of mobile home parks– Tenants association right of first refusal. – (a) In any instance in which a mobile home park owner has been sent a certifiedletter from an incorporated home owner households association indicating thatthe association has at least fifty-one percent (51%) of the home ownerhouseholds residing within that park as members, and has articles ofincorporation specifying all rights and powers, including the power tonegotiate for, acquire, and operate the mobile home park on behalf of themember residents, then, before a mobile home park may be sold for any purposeand before it may be leased for any purpose that would result in adiscontinuance, the owner shall notify the association by certified mail returnreceipt requested of any bona fide offer that the owner intends to accept, tobuy the park or to lease it for a use that would result in a discontinuance.The park owner shall also give notice by certified mail return receiptrequested to the incorporated homeowners' association of any intention to sellor lease the park for a use which will result in a discontinuance withinfourteen (14) days of any advertisement or other public notice by the owner orhis or her agent that the park is for sale or the land upon which the park islocated is for lease. Nothing in this section shall limit the association fromacting as an agent of the residents in any other cause of action, objective orpurpose in advancing a stated purpose in the articles of incorporation of thehomeowners' association.
(b) The notice of pending bona fide sale from the owner mustcontain at a minimum the following if known and available and applicable to thesale:
(1) An affidavit from the buyer or lessee stating the offeredpurchase price or offered lease payment;
(2) The terms of seller financing, including the amount, theinterest rate and its amortization rate;
(3) The terms of assumable financing, if any, including theamount, the interest rate and its amortization rate;
(4) The legal description and a statement of appraised orassessed value of property included in any land trade involved in the sale ofthe park;
(5) Proposed improvements to the property to be made by theowner in connection with the sale, or other economic concessions by the ownerin connection with the sale, if any;
(6) A statement that the owner will allow reasonable accessto the property by parties involved in the potential purchase including, butnot limited to, the tenants' association, consultants, and lenders;
(7) A statement that the owner will make available to theresidents copies of any easements either on or off the property to which theowner is a party and copies of all permits or licenses in force within seven(7) days of a signed purchase and sale agreement with the residents;
(8) A statement that the owner will make available to theresidents a survey and legal description of the park, plus an itemized list ofmonthly operating expenses, utility consumption rates, taxes, insurance andcapital expenditures for each of the past three (3) years within seven (7) daysof a signed purchase and sale agreement with the residents;
(9) A statement that the owner will make available to thetenants' association the most recent rent roll, a list of tenants, a list ofvacant units and a statement of the vacancy rate at the park for the three (3)preceding calendar years within seven (7) days of a signed purchase and saleagreement with the residents;
(10) A statement that the owner will make available to thetenants' association any available data relating to the past and presentexistence of hazardous waste either on the property or in close proximitywithin seven (7) days of a signed purchase and sale agreement with theresidents;
(11) A statement that the owner will make available to thetenants' association any available data relating to the water, sewer andelectrical systems of the park within seven (7) days of a signed purchase andsale agreement with the residents;
(12) A statement that the owner will make available to thetenants' association all income and operating expenses relating to the propertyto be purchased for the three (3) preceding calendar years within seven (7)days of a signed purchase and sale agreement with the residents and any otherinformation that may be required by the lender. Any additional information thatis required by the lender shall be kept strictly confidential.
(c) Any incorporated home owners' association entitled tonotice under this section shall have the right to purchase, in the case of athird party bona fide offer to purchase, or to lease in the case of a thirdparty bona fide offer to lease, the park, provided it meets the same price andthe same terms and conditions of any offer of which it is entitled to noticeunder this section by:
(1) Executing a contract or purchase and sale or leaseagreement with the owner within forty-five (45) days of notice of the offer; and
(2) Obtaining any necessary financing or guarantees within anadditional one hundred thirty-five (135) days.
(d) No owner shall unreasonably refuse to enter into, orunreasonably delay the execution of a purchase and sale or lease agreement witha home owners' association that has made a bona fide offer to meet the sameprice and the same terms and conditions of an offer for which notice isrequired to be given pursuant to this section.
(e) The deposit monies must be credited to the purchase priceof the mobile home park.
(f) The incorporated home owners' association will usediligent efforts to obtain a commitment for financing from a lender by makingimmediate application for financing upon signing of the purchase and saleagreement. In the event that the incorporated home owners' association, withthe exercise of reasonable efforts, is unable to obtain necessary financing orcomply with other contingencies of the purchase and sale agreement, theincorporated home owners' association shall immediately notify the park ownerand the deposit shall be returned to the incorporated home owners' association.
(g) If the incorporated home owners' association shalldefault in the performance of its obligations as a purchaser under the terms ofthe purchase and sale agreement, the park owner shall have, as sole andexclusive remedy for the default, the right to retain the deposit as liquidateddamages in full settlement and discharge of all obligations of the incorporatedhome owners' association without further recourse in law or equity.
(h) Failure of the incorporated home owners' association toexecute a purchase and sale agreement or lease within the forty-five (45) dayperiod or to obtain a binding commitment for financing within the one hundredthirty-five (135) day period shall serve to terminate the right of theassociation to purchase or lease the mobile park home.
(i) Residents shall have a total of one hundred eighty (180)days from the receipt of notice of a bona fide sale to complete a transactionunder the right of first refusal legislation. Any delays by the seller insupplying requested information as stated in this legislation or any delayresulting from litigation involving the sale and/or litigation affecting themarketability of the title of the mobile home park shall result in the samenumber of days over the due date being added to the one hundred eighty (180)days available to the residents for a right of first refusal purchase unlessthe litigation is frivolous and prompted for the sole purpose of delay by thehome owners association.
(j) The time periods provided in this section may be extendedby agreement of the association and the owner.
(k) Nothing in this section shall be construed to require anowner to provide financing to any association or to prohibit an owner fromrequiring an association which is offering to lease a park to have within itspossession a sum equivalent to the capitalized value of the proposed rent ofthe park and requiring that a portion of that sum, of an amount necessary topay the rent on the park for a period of no greater than two (2) years, be keptin escrow for that purpose during the term of the lease.
(l) The right of first refusal created in this section shallinure to a home owners' association for the time periods provided in thissection, beginning on the date of notice to the home owners' association. Theeffective period of the right of first refusal shall apply separately for eachsubstantially different bona fide offer to purchase the park or to lease it fora purpose that would result in a discontinuance, and for each offer the same asan offer made more than three (3) months prior to the later offer. However, inthe case of the same offer made by a prospective buyer who has previously madean offer for which notice to a home owners' association was required by thissection, the right of first refusal shall apply only if the subsequent offer ismade more than six (6) months after the earlier offer. The right of firstrefusal shall not apply with respect to any offer received by the owner forwhich notice to a home owners' association is not required pursuant to thissection.
(m) No right of first refusal shall apply to a governmenttaking by eminent domain or negotiated purchase, a forced sale pursuant to aforeclosure, transfer by gift, devise, or operation of law, or a sale to aperson who would be included within the table of descent and distribution ifthere were to be a death intestate of a park owner.
(n) In any instance in which the incorporated home owners'association of a mobile home park is not the successful purchaser or lessee ofthe mobile home park, the seller or lessor of the park shall prove compliancewith this section by filing an affidavit of compliance in the official landevidence records of the city or town where the property is located within seven(7) days of the sale or lease of the park.
(o) In any instance in which the incorporated homeowners'association of a mobile home park is the successful purchaser or lessee of themobile home park, the association shall have the right to distinguish in termsof lease conditions and rent and fees as between members of said associationand non-members of said association. For purposes of this chapter, members of ahomeowners' association and non-members of a homeowners' association shall notbe deemed residents of a similar class.
§ 31-44-3.1 Sale of mobile home parks– Tenants association right of first refusal. – (a) In any instance in which a mobile home park owner has been sent a certifiedletter from an incorporated home owner households association indicating thatthe association has at least fifty-one percent (51%) of the home ownerhouseholds residing within that park as members, and has articles ofincorporation specifying all rights and powers, including the power tonegotiate for, acquire, and operate the mobile home park on behalf of themember residents, then, before a mobile home park may be sold for any purposeand before it may be leased for any purpose that would result in adiscontinuance, the owner shall notify the association by certified mail returnreceipt requested of any bona fide offer that the owner intends to accept, tobuy the park or to lease it for a use that would result in a discontinuance.The park owner shall also give notice by certified mail return receiptrequested to the incorporated homeowners' association of any intention to sellor lease the park for a use which will result in a discontinuance withinfourteen (14) days of any advertisement or other public notice by the owner orhis or her agent that the park is for sale or the land upon which the park islocated is for lease. Nothing in this section shall limit the association fromacting as an agent of the residents in any other cause of action, objective orpurpose in advancing a stated purpose in the articles of incorporation of thehomeowners' association.
(b) The notice of pending bona fide sale from the owner mustcontain at a minimum the following if known and available and applicable to thesale:
(1) An affidavit from the buyer or lessee stating the offeredpurchase price or offered lease payment;
(2) The terms of seller financing, including the amount, theinterest rate and its amortization rate;
(3) The terms of assumable financing, if any, including theamount, the interest rate and its amortization rate;
(4) The legal description and a statement of appraised orassessed value of property included in any land trade involved in the sale ofthe park;
(5) Proposed improvements to the property to be made by theowner in connection with the sale, or other economic concessions by the ownerin connection with the sale, if any;
(6) A statement that the owner will allow reasonable accessto the property by parties involved in the potential purchase including, butnot limited to, the tenants' association, consultants, and lenders;
(7) A statement that the owner will make available to theresidents copies of any easements either on or off the property to which theowner is a party and copies of all permits or licenses in force within seven(7) days of a signed purchase and sale agreement with the residents;
(8) A statement that the owner will make available to theresidents a survey and legal description of the park, plus an itemized list ofmonthly operating expenses, utility consumption rates, taxes, insurance andcapital expenditures for each of the past three (3) years within seven (7) daysof a signed purchase and sale agreement with the residents;
(9) A statement that the owner will make available to thetenants' association the most recent rent roll, a list of tenants, a list ofvacant units and a statement of the vacancy rate at the park for the three (3)preceding calendar years within seven (7) days of a signed purchase and saleagreement with the residents;
(10) A statement that the owner will make available to thetenants' association any available data relating to the past and presentexistence of hazardous waste either on the property or in close proximitywithin seven (7) days of a signed purchase and sale agreement with theresidents;
(11) A statement that the owner will make available to thetenants' association any available data relating to the water, sewer andelectrical systems of the park within seven (7) days of a signed purchase andsale agreement with the residents;
(12) A statement that the owner will make available to thetenants' association all income and operating expenses relating to the propertyto be purchased for the three (3) preceding calendar years within seven (7)days of a signed purchase and sale agreement with the residents and any otherinformation that may be required by the lender. Any additional information thatis required by the lender shall be kept strictly confidential.
(c) Any incorporated home owners' association entitled tonotice under this section shall have the right to purchase, in the case of athird party bona fide offer to purchase, or to lease in the case of a thirdparty bona fide offer to lease, the park, provided it meets the same price andthe same terms and conditions of any offer of which it is entitled to noticeunder this section by:
(1) Executing a contract or purchase and sale or leaseagreement with the owner within forty-five (45) days of notice of the offer; and
(2) Obtaining any necessary financing or guarantees within anadditional one hundred thirty-five (135) days.
(d) No owner shall unreasonably refuse to enter into, orunreasonably delay the execution of a purchase and sale or lease agreement witha home owners' association that has made a bona fide offer to meet the sameprice and the same terms and conditions of an offer for which notice isrequired to be given pursuant to this section.
(e) The deposit monies must be credited to the purchase priceof the mobile home park.
(f) The incorporated home owners' association will usediligent efforts to obtain a commitment for financing from a lender by makingimmediate application for financing upon signing of the purchase and saleagreement. In the event that the incorporated home owners' association, withthe exercise of reasonable efforts, is unable to obtain necessary financing orcomply with other contingencies of the purchase and sale agreement, theincorporated home owners' association shall immediately notify the park ownerand the deposit shall be returned to the incorporated home owners' association.
(g) If the incorporated home owners' association shalldefault in the performance of its obligations as a purchaser under the terms ofthe purchase and sale agreement, the park owner shall have, as sole andexclusive remedy for the default, the right to retain the deposit as liquidateddamages in full settlement and discharge of all obligations of the incorporatedhome owners' association without further recourse in law or equity.
(h) Failure of the incorporated home owners' association toexecute a purchase and sale agreement or lease within the forty-five (45) dayperiod or to obtain a binding commitment for financing within the one hundredthirty-five (135) day period shall serve to terminate the right of theassociation to purchase or lease the mobile park home.
(i) Residents shall have a total of one hundred eighty (180)days from the receipt of notice of a bona fide sale to complete a transactionunder the right of first refusal legislation. Any delays by the seller insupplying requested information as stated in this legislation or any delayresulting from litigation involving the sale and/or litigation affecting themarketability of the title of the mobile home park shall result in the samenumber of days over the due date being added to the one hundred eighty (180)days available to the residents for a right of first refusal purchase unlessthe litigation is frivolous and prompted for the sole purpose of delay by thehome owners association.
(j) The time periods provided in this section may be extendedby agreement of the association and the owner.
(k) Nothing in this section shall be construed to require anowner to provide financing to any association or to prohibit an owner fromrequiring an association which is offering to lease a park to have within itspossession a sum equivalent to the capitalized value of the proposed rent ofthe park and requiring that a portion of that sum, of an amount necessary topay the rent on the park for a period of no greater than two (2) years, be keptin escrow for that purpose during the term of the lease.
(l) The right of first refusal created in this section shallinure to a home owners' association for the time periods provided in thissection, beginning on the date of notice to the home owners' association. Theeffective period of the right of first refusal shall apply separately for eachsubstantially different bona fide offer to purchase the park or to lease it fora purpose that would result in a discontinuance, and for each offer the same asan offer made more than three (3) months prior to the later offer. However, inthe case of the same offer made by a prospective buyer who has previously madean offer for which notice to a home owners' association was required by thissection, the right of first refusal shall apply only if the subsequent offer ismade more than six (6) months after the earlier offer. The right of firstrefusal shall not apply with respect to any offer received by the owner forwhich notice to a home owners' association is not required pursuant to thissection.
(m) No right of first refusal shall apply to a governmenttaking by eminent domain or negotiated purchase, a forced sale pursuant to aforeclosure, transfer by gift, devise, or operation of law, or a sale to aperson who would be included within the table of descent and distribution ifthere were to be a death intestate of a park owner.
(n) In any instance in which the incorporated home owners'association of a mobile home park is not the successful purchaser or lessee ofthe mobile home park, the seller or lessor of the park shall prove compliancewith this section by filing an affidavit of compliance in the official landevidence records of the city or town where the property is located within seven(7) days of the sale or lease of the park.
(o) In any instance in which the incorporated homeowners'association of a mobile home park is the successful purchaser or lessee of themobile home park, the association shall have the right to distinguish in termsof lease conditions and rent and fees as between members of said associationand non-members of said association. For purposes of this chapter, members of ahomeowners' association and non-members of a homeowners' association shall notbe deemed residents of a similar class.
§ 31-44-3.1 Sale of mobile home parks– Tenants association right of first refusal. – (a) In any instance in which a mobile home park owner has been sent a certifiedletter from an incorporated home owner households association indicating thatthe association has at least fifty-one percent (51%) of the home ownerhouseholds residing within that park as members, and has articles ofincorporation specifying all rights and powers, including the power tonegotiate for, acquire, and operate the mobile home park on behalf of themember residents, then, before a mobile home park may be sold for any purposeand before it may be leased for any purpose that would result in adiscontinuance, the owner shall notify the association by certified mail returnreceipt requested of any bona fide offer that the owner intends to accept, tobuy the park or to lease it for a use that would result in a discontinuance.The park owner shall also give notice by certified mail return receiptrequested to the incorporated homeowners' association of any intention to sellor lease the park for a use which will result in a discontinuance withinfourteen (14) days of any advertisement or other public notice by the owner orhis or her agent that the park is for sale or the land upon which the park islocated is for lease. Nothing in this section shall limit the association fromacting as an agent of the residents in any other cause of action, objective orpurpose in advancing a stated purpose in the articles of incorporation of thehomeowners' association.
(b) The notice of pending bona fide sale from the owner mustcontain at a minimum the following if known and available and applicable to thesale:
(1) An affidavit from the buyer or lessee stating the offeredpurchase price or offered lease payment;
(2) The terms of seller financing, including the amount, theinterest rate and its amortization rate;
(3) The terms of assumable financing, if any, including theamount, the interest rate and its amortization rate;
(4) The legal description and a statement of appraised orassessed value of property included in any land trade involved in the sale ofthe park;
(5) Proposed improvements to the property to be made by theowner in connection with the sale, or other economic concessions by the ownerin connection with the sale, if any;
(6) A statement that the owner will allow reasonable accessto the property by parties involved in the potential purchase including, butnot limited to, the tenants' association, consultants, and lenders;
(7) A statement that the owner will make available to theresidents copies of any easements either on or off the property to which theowner is a party and copies of all permits or licenses in force within seven(7) days of a signed purchase and sale agreement with the residents;
(8) A statement that the owner will make available to theresidents a survey and legal description of the park, plus an itemized list ofmonthly operating expenses, utility consumption rates, taxes, insurance andcapital expenditures for each of the past three (3) years within seven (7) daysof a signed purchase and sale agreement with the residents;
(9) A statement that the owner will make available to thetenants' association the most recent rent roll, a list of tenants, a list ofvacant units and a statement of the vacancy rate at the park for the three (3)preceding calendar years within seven (7) days of a signed purchase and saleagreement with the residents;
(10) A statement that the owner will make available to thetenants' association any available data relating to the past and presentexistence of hazardous waste either on the property or in close proximitywithin seven (7) days of a signed purchase and sale agreement with theresidents;
(11) A statement that the owner will make available to thetenants' association any available data relating to the water, sewer andelectrical systems of the park within seven (7) days of a signed purchase andsale agreement with the residents;
(12) A statement that the owner will make available to thetenants' association all income and operating expenses relating to the propertyto be purchased for the three (3) preceding calendar years within seven (7)days of a signed purchase and sale agreement with the residents and any otherinformation that may be required by the lender. Any additional information thatis required by the lender shall be kept strictly confidential.
(c) Any incorporated home owners' association entitled tonotice under this section shall have the right to purchase, in the case of athird party bona fide offer to purchase, or to lease in the case of a thirdparty bona fide offer to lease, the park, provided it meets the same price andthe same terms and conditions of any offer of which it is entitled to noticeunder this section by:
(1) Executing a contract or purchase and sale or leaseagreement with the owner within forty-five (45) days of notice of the offer; and
(2) Obtaining any necessary financing or guarantees within anadditional one hundred thirty-five (135) days.
(d) No owner shall unreasonably refuse to enter into, orunreasonably delay the execution of a purchase and sale or lease agreement witha home owners' association that has made a bona fide offer to meet the sameprice and the same terms and conditions of an offer for which notice isrequired to be given pursuant to this section.
(e) The deposit monies must be credited to the purchase priceof the mobile home park.
(f) The incorporated home owners' association will usediligent efforts to obtain a commitment for financing from a lender by makingimmediate application for financing upon signing of the purchase and saleagreement. In the event that the incorporated home owners' association, withthe exercise of reasonable efforts, is unable to obtain necessary financing orcomply with other contingencies of the purchase and sale agreement, theincorporated home owners' association shall immediately notify the park ownerand the deposit shall be returned to the incorporated home owners' association.
(g) If the incorporated home owners' association shalldefault in the performance of its obligations as a purchaser under the terms ofthe purchase and sale agreement, the park owner shall have, as sole andexclusive remedy for the default, the right to retain the deposit as liquidateddamages in full settlement and discharge of all obligations of the incorporatedhome owners' association without further recourse in law or equity.
(h) Failure of the incorporated home owners' association toexecute a purchase and sale agreement or lease within the forty-five (45) dayperiod or to obtain a binding commitment for financing within the one hundredthirty-five (135) day period shall serve to terminate the right of theassociation to purchase or lease the mobile park home.
(i) Residents shall have a total of one hundred eighty (180)days from the receipt of notice of a bona fide sale to complete a transactionunder the right of first refusal legislation. Any delays by the seller insupplying requested information as stated in this legislation or any delayresulting from litigation involving the sale and/or litigation affecting themarketability of the title of the mobile home park shall result in the samenumber of days over the due date being added to the one hundred eighty (180)days available to the residents for a right of first refusal purchase unlessthe litigation is frivolous and prompted for the sole purpose of delay by thehome owners association.
(j) The time periods provided in this section may be extendedby agreement of the association and the owner.
(k) Nothing in this section shall be construed to require anowner to provide financing to any association or to prohibit an owner fromrequiring an association which is offering to lease a park to have within itspossession a sum equivalent to the capitalized value of the proposed rent ofthe park and requiring that a portion of that sum, of an amount necessary topay the rent on the park for a period of no greater than two (2) years, be keptin escrow for that purpose during the term of the lease.
(l) The right of first refusal created in this section shallinure to a home owners' association for the time periods provided in thissection, beginning on the date of notice to the home owners' association. Theeffective period of the right of first refusal shall apply separately for eachsubstantially different bona fide offer to purchase the park or to lease it fora purpose that would result in a discontinuance, and for each offer the same asan offer made more than three (3) months prior to the later offer. However, inthe case of the same offer made by a prospective buyer who has previously madean offer for which notice to a home owners' association was required by thissection, the right of first refusal shall apply only if the subsequent offer ismade more than six (6) months after the earlier offer. The right of firstrefusal shall not apply with respect to any offer received by the owner forwhich notice to a home owners' association is not required pursuant to thissection.
(m) No right of first refusal shall apply to a governmenttaking by eminent domain or negotiated purchase, a forced sale pursuant to aforeclosure, transfer by gift, devise, or operation of law, or a sale to aperson who would be included within the table of descent and distribution ifthere were to be a death intestate of a park owner.
(n) In any instance in which the incorporated home owners'association of a mobile home park is not the successful purchaser or lessee ofthe mobile home park, the seller or lessor of the park shall prove compliancewith this section by filing an affidavit of compliance in the official landevidence records of the city or town where the property is located within seven(7) days of the sale or lease of the park.
(o) In any instance in which the incorporated homeowners'association of a mobile home park is the successful purchaser or lessee of themobile home park, the association shall have the right to distinguish in termsof lease conditions and rent and fees as between members of said associationand non-members of said association. For purposes of this chapter, members of ahomeowners' association and non-members of a homeowners' association shall notbe deemed residents of a similar class.
