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DE HB106
Bill
Status
7/21/2014
Primary Sponsor
Paul Baumbach
Click for details
AI Summary
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Reduces the validity period for home owner association alternative offers to purchase manufactured home communities from 12 months to 6 months, with the option to refresh the offer every 6 months for up to 18 months total
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Grants home owner associations 30 calendar days to match any lower third-party offer before a community owner can sell to that third party, with required written notice and evidence of the competing offer
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Requires community owners to certify in writing to both the home owners association and Consumer Protection Unit within 7 business days when accepting a third-party offer that exceeds the association's alternative price
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Allows home owner associations to amend their alternative offers at any time upon written notice to the community owner
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Voids any outstanding alternative offers if a community owner decides to remove the property from the market, with prompt notification required to the home owners association
Legislative Description
An Act To Amend Title 25 Of The Delaware Code Relating To Manufactured Homes And Manufactured Home Communities.
Last Action
Signed by Governor
7/21/2014