SB288

Kentucky SB288 grants tenants the right of first refusal to purchase a residential rental property before the owner can sell it to a third party.

Kentucky SB288 establishes a new section in the Kentucky Revised Statutes to protect tenants' rights. Before an owner can sell a residential rental property, they must notify tenants of the sale and offer them the right of first refusal to purchase the property. Tenants have 30 days to submit a written offer to purchase, and the owner must respond within five days. If the owner accepts the tenant's offer, they cannot sell to a third party without the tenant's consent. The bill also outlines exceptions to the sale, such as transfers to family members or government entities.