HF1571 Summary

• Defines "representative acting on behalf of residents" as a person authorized to represent residents in purchasing a manufactured home park after obtaining written support from at least 51 percent of occupied homes in the park.

• Requires purchasers intending to close or convert a manufactured home park within one year to notify the park owner in writing, and park owners must provide residents with a 45-day notice before entering into a purchase agreement with anyone other than a resident representative.

• During the 45-day notice period, residents or their representative must have the right to make a matching offer to purchase the park at the same cash price and material terms, with the park owner required to negotiate in good faith.

• Requires a resident representative to obtain and maintain a 10 percent bond of the offer price for six months, with park owners compensated from the bond if the representative fails to complete the purchase and the park sells for a lower price within six months.

• If residents purchase the park through their representative, the representative must certify to the commissioner of commerce that the property will be preserved as a manufactured home park for 10 years.