Loading chat...
DE SB47
Bill
Status
6/14/2017
Primary Sponsor
Brian Bushweller
Click for details
AI Summary
-
Requires manufactured home community owners to restart the notice and right of first offer process if 2 years pass after initial notice without a sale, transfer, or conveyance of the community
-
Expands home owner association rights to match any higher third-party offer within 7 business days, removing previous thresholds that only triggered matching rights when offers were within 6% (under $40 million) or 4.5% ($40 million or more) of the association's alternative price
-
Eliminates the requirement for community owners to certify to the home owner association and Consumer Protection Unit when accepting third-party offers above the association's alternative price
-
Maintains existing 30-day response period for home owner associations to accept, reject, or counter the initial right of first offer notice from community owners
Legislative Description
An Act To Amend Title 25 Of The Delaware Code Relating To The Manufactured Home Owners And Community Owners Act.
Last Action
Reported Out of Committee (Manufactured Housing) in House with 3 Favorable, 1 On Its Merits
1/10/2018